IL&FS Engineering surges on winning Rs 533 crore Nagpur Metro Rail project
The stock rallied 15% to Rs 58.60 on the BSE in early morning trade.
 "Metro trains on trial run between Mittuguda and Nagole, in Hyderabad on Friday, December 18, 2015 PTI")
Metro trains on trial run between Mittuguda and Nagole, in Hyderabad on Friday, December 18, 2015 <b>PTI</b>
IL&FS Engineering and Construction Company has rallied 15% to Rs 58.60 on the BSE in early morning trade after the company late Friday announced that it has won the Rs 532.67-crore contract from Nagpur Rail Corporation.
"IL&FS Engineering Services has received a Letter of Acceptance (LoA) from Nagpur Metro Rail Corporation Limited (A Joint Venture of Government of India & Government of Maharashtra) for Rs 532.67 crore Nagpur Metro Rail Project," the company said in a statement.
The project involves construction of seven elevated metro stations, and three at-grade stations (North South Corridor) viz Congress Nagar to Khapri. The Project is to be completed in 110 weeks from the date of issue of LoA.
At 09:17 AM, the stock was up 13% at Rs 57.50 on the BSE. A combined 180,834 shares changed hands on the counter on the BSE and NSE so far.
"IL&FS Engineering Services has received a Letter of Acceptance (LoA) from Nagpur Metro Rail Corporation Limited (A Joint Venture of Government of India & Government of Maharashtra) for Rs 532.67 crore Nagpur Metro Rail Project," the company said in a statement.
The project involves construction of seven elevated metro stations, and three at-grade stations (North South Corridor) viz Congress Nagar to Khapri. The Project is to be completed in 110 weeks from the date of issue of LoA.
At 09:17 AM, the stock was up 13% at Rs 57.50 on the BSE. A combined 180,834 shares changed hands on the counter on the BSE and NSE so far.
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First Published: Jul 25 2016 | 9:20 AM IST