ITD Cementation India jumped 16.02% to Rs 592 at 11:28 IST on BSE, after the company won Rs 2168 crore order for dredging and reclamation works for container terminal 4 at Jawaharlal Nehru Port, Mumbai.
The announcement was made during market hours today, 20 February 2015.
Meanwhile, the S&P BSE Sensex was down 181.23 points or 0.63% to 29,278.04
On BSE, so far 66,268 shares were traded in the counter as compared to average daily volume of 6,735 shares in the past one quarter.
The stock hit a 52-week high of Rs 605 in intraday trade today, 20 February 2015. The stock hit a low of Rs 502 so far during the day. The stock had hit a 52-week low of Rs 120.50 on 26 March 2014.
The stock had underperformed the market over the past one month till 19 February 2015, falling 2.34% compared with 4.25% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 21.88% as against Sensex's 5.1% rise.
The small-cap construction company has an equity capital of Rs 15.52 crore. Face value per share is Rs 10.
ITD Cementation India said that the company has won an order worth Rs 2168 crore from concessionaire, Bharat Mumbai Container Terminals, for dredging and reclamation works on part of the phase-I development of fourth container terminal in JN Port.
Bharat Mumbai Container Terminals (BMCT), a wholly-owned subsidiary of PSA Bharat Investments (which is a subsidiary of PSA International), signed the concession with Jawaharlal Nehru Port Trust (JNPT) to develop the JN Port's fourth container terminal on a design, build, operate, finance and transfer basis in Mumbai for a period of 30 years. PSA will work along with JNPT to develop the terminal in India to cater to the increasing demand for container handling capacity and facilitate maritime trade in India. Phase-I of BMCT is expected to commence operations in early 2018, ITD Cementation India said.
Commenting on the order win, Adun Saraban, Managing Director, ITD Cementation India said that the order represents single largest order win by the company. The recent order win takes the company's order backlog to over Rs 6800 crore as of 18 February 2015, Adun Saraban said.
On a consolidated basis, ITD Cementation India reported net loss of Rs 21.95 crore in Q2 September 2014, higher than net loss of Rs 3.34 crore in Q2 September 2014. Net sales rose 7.6% to Rs 403.96 crore in Q2 September 2014 over Q2 September 2013.
ITD Cementation India is a civil engineering, contracting and construction organization providing integrated design, engineering, procurement and construction services for infrastructure development projects in India.
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