IL&FS Engineering and Construction Company rose 1.82% to Rs 55.80 at 15:10 IST on BSE after the company said it received letter of intents worth Rs 559 crore.
The announcement was made during trading hours today, 12 May 2017.Meanwhile, the S&P BSE Sensex was down 55.04 points, or 0.18% to 30,195.94.
On the BSE, 93,000 shares were traded in the counter so far, compared with average daily volumes of 32,166 shares in the past one quarter. The stock had hit a high of Rs 57 and a low of Rs 54.30 so far during the day. The stock hit a 52-week high of Rs 66 on 9 September 2016. The stock hit a 52-week low of Rs 36.80 on 22 November 2016.
The stock had underperformed the market over the past one month till 11 May 2017, falling 2.66% compared with 2.05% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 6% as against Sensex's 6.76% rise.
The small-cap company has equity capital of Rs 131.12 crore. Face value per share is Rs 10.
IL&FS Engineering and Construction Company (IL&FS Engineering Services) received Letter of Intents (LoIs) from Jharkhand Bijli Vitran Nigam (JBVNL), Ranchi for rural electrification works of East Singhbhum package comprising East Singhbhum district, and West Singhbum package comprising West Singhbhum districts in Jharkhand under Deen Dayal Upadhyay Gram Jyoti Yojna (DDUGJY).
IL&FS Engineering Services also received LoIs for urban electrification works of Jamshedpur Electric Supply Area of JBVNL covering eight towns (Jamshedpur, Mango, Jugsalai, Chakuliya, Adityapur, Chaibasa, Chakradharpur, and Seraikela) in East Singhbhum, West Singhbum, and Seraikela-Kharsawan districts in Jharkhand under Integrated Power Development Scheme (IPDS) on behalf of JBVNL.
The total value of these contracts is Rs 559.35 crore. The completion schedule of the works is 24 months.
IL&FS Engineering & Construction Company reported net profit of Rs 1.64 crore in Q3 December 2016 as against net loss of Rs 78.57 crore in Q3 December 2015. Net sales declined 9.20% to Rs 397.16 crore in Q3 December 2016 over Q3 December 2015.
IL&FS Engineering and Construction Company is one of the leading infrastructure development, construction and project management companies in India.
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