ITD Cementation shares rose 4 per cent to hit a record high after it bagged a contract worth ₹580 crore for the Ruwais LNG project in Abu Dhabi
Shares of ITD Cementation India hit a new high of ₹860.95, soaring 6% on the BSE in Wednesday's intra-day trade on strong order book position.
ITD Cementation share price rose after the company announced that it has secured a contract worth about ₹893 crore, including GST. in Odisha.
ITD Cementation India hit a record high of ₹725.90, surging 9.4% on the BSE in Monday's intra-day trade; surpassing its previous high of ₹694.45 touched on October 4, 2024.
ITD Cementation's consolidated order book stood at Rs 18,300 crore and the company secured orders worth over Rs 7,100 crore in FY25, as of March 31, 2025.
The Competition Commission of India on Tuesday approved Adani Group's arm Renew Exim DMCC's proposal to acquire a majority stake in ITD Cementation India for about Rs 5,757 crore. ITD Cementation India Ltd is an engineering and construction company undertaking heavy civil, infrastructure and engineering, procurement and construction (EPC) business and operating in India and overseas. "The proposed combination involves the acquisition by Renew Exim DMCC (acquirer) of approximately 46.64 per cent equivalent to 8,01,13,180 shares of the total issued and voting equity share capital of the ITD Cementation India Ltd (target)," the Competition Commission of India (CCI) said in a release. Renew Exim DMCC is incorporated in Dubai, United Arab Emirates, and belongs to the Adani group. It is a holding company engaged in the business of investment in commercial enterprises and management and does not have any operations in India. Pursuant to the Sebi's SAST (Substantial Acquisition of Shares a
Renew Exim DMCC, Adani Group's Dubai-based entity in October had entered into an agreement to acquire a 46.64 per cent stake in ITD Cementation in October 2024
Group entity will acquire 46.64% in EPC firm, triggering an open offer
ITD Cementation had announced on July 3, 2024, that its promoter Italian Thai Development (ITD) Public Company Limited is exploring a potential divestment of its investments in the company.
On July 3,Italian Thai Development Public Company, the Promoter shareholder of the company, informed that they are exploring a potential possible divestment of their investments in ITD Cementation
Acquisition in ITD Cementation India would strengthen Adani Group's civil engineering capabilities
The uptick in the share price came after the company announced a strong set of Q1FY25 results.
The uptick in share price came after the company announced that it has secured an order worth Rs 1,237 crore.
ITD Cementation promoter stake: At the end of the March quarter, Italian-Thai Development Public Company held a 46.64 per cent stake in ITD Cementation. The stock of ITD Cementation is up 101% YTD
Shares of civil construction firm ITD Cementation India soared up to 3.66 per cent at Rs 537 per share, hitting its 52-week high on the BSE in Thursday's intraday trade
So far in the financial year 2023-24, the stock price of the company has more-than-doubled or zoomed 136 per cent
ITD, which was quoting lower for the seventh straight day, have plunged 33 per cent during the period.
The stock rallied 11% to Rs 160 on the BSE in early morning trade.