 "ITD Cementation jumps 6% on securing order of Rs 1,237 crore; details here")
ITD Cementation stock jumps: Shares of ITD Cementation rallied as much as 5.67 per cent to hit an intraday high of Rs 539.60 per share on Tuesday, July 30, 2024.
The uptick in share price came after the company announced that it has secured an order worth Rs 1,237 crore.
In an exchange filing, ITD Cementation said, “This is to inform you that ITD Cementation India Limited has secured a new contract worth approximately Rs 1,237 Crore including taxes and duties.”
Under the order details, ITD Cementation will be responsible for constructing Residential colony in New Delhi (Phase II).
Last month, ITD Cementation secured a marine contract for constructing Third Berth (Jetty) and specified additional works at Dahej LNG terminal in the state of Gujarat worth approximately Rs 1,082 crore including taxes and duties.
Financial performance in Q4FY24
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ITD Cementations’ profit climbed 138 per cent year-on-year (Y-o-Y) to Rs 90 crore. The company’s total operating income rose 38 per cent Y-o-Y to Rs 2,258 crore.
Its earnings before interest, tax, depreciation and amortisation rose 64 per cent annually to Rs 242 crore. Consequently, Ebitda margin came in at 10.7 per cent in Q4FY24.
ITD Cementation India Limited is among the leading engineering and construction companies undertaking heavy civil, infrastructure and EPC business and operating in India for nine decades with an established presence and expertise in maritime structures, mass rapid transit systems, airports, hydro-electric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial structures and buildings, water & waste water and foundation & specialist engineering.
The market capitalisation of ITD Cementation is Rs 9,007.68 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of ITD Cementation stock is Rs 589.65 per share while its 52-week low is Rs 175 per share.
At 12:00 PM, ITD Cementation shares were trading 2.69 per cent higher at 524.35 per share. In comparison, BSE Sensex was trading 0.38 per cent at 81,664.30 levels.