 "IL&FS Engineering surges on Rs 464-crore order in Saudi Arabia")
IL&FS Engineering has surged 11% to Rs 64.45 on BSE in early morning deal after the company said Maytas Infra Saudi Arabia (MISA), a subsidiary of construction firm has received Rs 464-crore contract from Saudi Binladin Group for construction of Abraj Kudai project in Makkah in Kingdom of Saudi Arabia (KSA).
The scope of work involves supply, delivery, installation and handing over of structural and reinforcement concrete works for two towers each 230 meters in height and is to be completed within 32 months, the company said in a regulatory filing.
MISA recently commenced work on road drainage works for King Abdul-Aziz international Airport development project Phase-I in Jeddah in KSA worth Rs 268 crore, it added.
The stock opened at Rs 64.10 and touched high of Rs 65.95 on BSE so far. Around 73,000 shares already changed hands on the counter till 0930 hours against an average 17,000 shares that were traded daily in past two weeks on BSE.
The scope of work involves supply, delivery, installation and handing over of structural and reinforcement concrete works for two towers each 230 meters in height and is to be completed within 32 months, the company said in a regulatory filing.
MISA recently commenced work on road drainage works for King Abdul-Aziz international Airport development project Phase-I in Jeddah in KSA worth Rs 268 crore, it added.
The stock opened at Rs 64.10 and touched high of Rs 65.95 on BSE so far. Around 73,000 shares already changed hands on the counter till 0930 hours against an average 17,000 shares that were traded daily in past two weeks on BSE.