Shares of Hyderabad-based infrastructure company IVRCL surged 8 percent after the company said that it bagged orders worth Rs 2,632.85 crore from the state governments of Karnataka and Andhra Pradesh.
The irrigation segment works include civil works for the Yettinahole turnkey project under packages-II, III and V from the Karnataka Neeravari Nigam Limited (KNNL) for Rs 685.80 crore, Rs 1,135 crore and Rs 543.28 crore respectively. The duration for the completion of projects is 36 months.
It also secured contract worth Rs 101.19 crore for the construction of lift irrigation scheme (Herkal LIS) on Ghataprabha river in Karnataka's Bagalkot district, Rs 26.70 crore worth civil works order, both from the Krishna Bhagya Jala Nigam Ltd. These would be completed in 24 months.
In Andhra Pradesh, the company's water division bagged the Chittoor district drinking water supply project worth Rs 140.85 crore. The completion period is 18 months.
The stock is currently trading at 11.10 and touched a high of Rs 11.30 and a low of Rs 10.20 on the Bombay Stock Exchange (BSE) Tuesday. A total of 12,85,4851 shares changed hands on both BSE and NSE on Tuesday against 10-day average of 27,60,199.
