IL&FS Engineering and Construction Company was locked at 5% upper circuit at Rs 51.25 at 11:29 IST on BSE after the company said it has received an order worth Rs 581.96 crore.
The announcement was made during market hours today, 1 December 2017.Meanwhile, the S&P BSE Sensex was down 40.45 points or 0.12% at 33,108.90.
On the BSE, 37,000 shares were traded on the counter so far as against the average daily volumes of 19,000 shares in the past two weeks. The stock had opened with an upward gap of 5% and remained locked at that level at Rs 51.25 so far during the day. The stock had hit a 52-week high of Rs 65.95 on 21 February 2017 and a 52-week low of Rs 31 on 29 September 2017.
IL&FS Engineering and Construction Company has received a letter of acceptance (LoA) for a road contract from IL&FS Transportation Networks. The total value of the contract is Rs 581.96 crore and completion period is 21 months. The scope of IL&FS Engineering Services under this contract involves four laning a stretch of Amravati - Chikhli section of National Highway-6 in Maharashtra on item rate basis.
IL&FS Engineering and Construction Company reported net profit of Rs 40.14 crore in Q2 September 2017 compared with net loss of Rs 81.59 crore in Q2 September 2016. Net sales fell 4.5% to Rs 340.84 crore in Q2 September 2017 over Q2 September 2016.
IL&FS Engineering and Construction Company is engaged in construction and infrastructure development.
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