ILFS Eng shares zoom 20% on Rs 675 cr road project order

Shares of IL&FS Engineering and Construction Company Ltd today soared 20 per cent after the company bagged Rs 675 crore project from the Ministry of Road Transport and Highways (MoRTH).
Consequently, the stock zoomed 19.9 per cent to Rs 72 on BSE.
On the volume front, 3 lakh shares of the company changed hands at BSE during the morning trade.
"IL&FS Engineering and Construction... Has received a Letter of Acceptance (LoA) from... MoRTH for a total value of Rs 675 crore for rehabilitation and upgradation to two lanes with paved shoulders configuration and strengthening of Birpur-Bihpur section... In the state of Bihar under Phase-I of NHDP," the company had said in a statement yesterday.

The project involves engineering, procurement and construction (EPC) with a completion period of 36 months, the statement said.
IL&FS Engineering is an infrastructure development, construction and project management firm.