IL&FS Engineering and Construction Company rose 1.77% to Rs 69 at 09:18 IST on BSE after the company bagged two contracts from Paschimanchal Vidhyut Vitran Nigam totaling Rs 239.6 crore.
The announcement was made before market hours today, 20 November 2014.
Meanwhile, the S&P BSE Sensex was up 22.20 points or 0.08% at 28,055.05
On BSE, so far 6,059 shares were traded in the counter as against average daily volume of 35,000 shares in the past two quarters.
The stock hit a high of Rs 70.50 and a low of Rs 69 so far during the day. The stock had hit a 52-week high of Rs 76.10 on 21 May 2014. The stock had hit a 52-week low of Rs 31 on 20 December 2013.
The small-cap company has equity capital of Rs 89.86 crore. Face value per share is Rs 10.
IL&FS Engineering and Construction Company bagged two individual contracts from PVVNL (Paschimanchal Vidhyut Vitran Nigam), a discom of Uttar Pradesh state for Rural Electrification (RE) works with value of Rs 145.55 crore and Rs 94.05 crore respectively totaling Rs 239.6 crore in Uttar Pradesh.
The first contract involves RE work of villages of Moradabad district and the second contract involves RE works of villages of Amroha (JP Nagar) district in Uttar Pradesh under Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) 12th Plan on turnkey basis. The completion period for both these contracts is 24 months.
Meanwhile, IL&FS Engineering and Construction Company had on 18 November 2014 announced scheduling of a meeting of the Board of Directors of the company on 28 November 2014 to consider additional fund raising options for the company.
IL&FS Engineering and Construction Company reported net loss of Rs 37.89 crore in Q2 September 2014, lower than net loss of Rs 53.25 crore in Q2 September 2013. Net sales rose 22.7% to Rs 556.27 crore in Q2 September 2014 over Q2 September 2013.
IL&FS Engineering and Construction Company is an infrastructure development, construction and project management company.
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