Shares of IL&FS Engineering and Construction Company today surged over 6 per cent after the company bagged two pipeline laying contracts worth Rs 123 crore from Gas Authority Ltd (GAIL).
The stock gained 5.38 per cent to settle at Rs 54.80 on BSE. During the day, it jumped 9 per cent to Rs 56.70.
On NSE, shares of the company rose by 6.17 per cent to close at Rs 55.
"IL&FS Engineering and Construction Company has received Fax of Acceptance (FOA) from Gas Authority Ltd for two pipeline laying contracts worth Rs 123.05 crore in Kerala/Karnataka," the company said in a BSE filing.
Both the orders are part of Kochi-Koottanad-Mangalore pipeline project.
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