IL&FS Engineering and Construction Company surged 13.32% to Rs 68.05 at 11:04 IST on BSE after the company said it has secured a letter of acceptance for a contract worth Rs 675 crore from Ministry of Road Transport and Highways, Bihar.
The announcement was made after market hours yesterday, 1 December 2015.
Meanwhile, the S&P BSE Senses was down 79.61 points or 0.3% at 26,089.80.
On BSE, so far 1.59 lakh shares were traded in the counter as against average daily volume of 22,099 shares in the past one quarter.
The stock hit a high of Rs 68.90 and a low of Rs 64 so far during the day. The stock had hit a 52-week high of Rs 116.30 on 24 February 2015. The stock had hit a 52-week low of Rs 55.20 on 27 November 2015.
The stock had underperformed the market over the past one month till 1 December 2015, sliding 13.91% compared with Sensex's 1.83% fall. The scrip had also underperformed the market in past one quarter, declining 3.22% as against Sensex's 1.84% rise.
The small-cap company has equity capital of Rs 121.16 crore. Face value per share is Rs 10.
IL&FS Engineering and Construction Company said it has received a letter of acceptance (LoA) from Ministry of Road Transport and Highways (MoRTH) for a total value of Rs 675 crore for rehabilitation and upgradation to 2 lanes of Birpur-Bihpur section of National Highway-106 in Bihar under phase-I of National Highways Development Project (NHDP). The project involves engineering, procurement, and construction (EPC) with a completion period of 36 months.
IL&FS Engineering and Construction Company reported a net loss of Rs 81.87 crore in Q2 September 2015, higher than net loss of Rs 37.89 crore in Q2 September 2014. Net sales declined 36.7% to Rs 352.07 crore in Q2 September 2015 over Q2 September 2014.
IL&FS Engineering and Construction Company is into infrastructure development, construction and project management.
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