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IL&FS Engineering up over 10% on winning Rs 675-crore road project

The stock rallied 12% to Rs 67.50 on the BSE on back of heavy volumes.

IL&FS Engineering up over 10% on winning Rs 675-crore road project

SI Reporter Mumbai
IL&FS Engineering and Construction Company has rallied 12% to Rs 67.50 on the BSE after the announced that the company has bagged road projects worth Rs 675 crore from Ministry of Road Transport and Highways (MoRTH).

“The company has received a letter of acceptance (LoA) from Ministry of Road Transport and Highways (MoRTH) for a total value of Rs 675 crore for rehabilitation and upgradation to 2 lanes with paved shoulders configuration and strengthening of Birpur-Bihpur section (from km. 0.0 to km 106) of NH-106 in the state of Bihar under Phase-I of NHDP,” IL&FS Engineering said in a statement.

The project involves engineering, procurement, and construction (EPC) with a completion period of 36 months, it added.

The stock hit an intra-day high of Rs 68.90 on the BSE on back of heavy volumes. A combined 854,900 shares changed hands on the counter against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.
 
 

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First Published: Dec 02 2015 | 12:08 PM IST

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