IVRCL shares today settled with gains of over 5 per cent after the infrastructure firm won contracts worth Rs 351 crore in Karnataka related to irrigation and drinking water projects.
The company today opened at Rs 9.45, then gained further ground and touched an intra-day high of Rs 10.77 and finally settled for the day at Rs 9.85, up 5.35 per cent on BSE.
On NSE, the stock witnessed a similar trend and settled for the day at Rs 9.80, up 4.25 per cent.
During the day, the stock had seen an intra-day high of Rs 10.15 and low of Rs 9.50.
The company said it's irrigation division has been awarded Rs 324.67 crore worth projects Cauvery Neeravari Nigama Ltd in Karntaka for providing drinking water to 83 tanks in some districts.
The work also entails design, supply, installation, testing and commissioning of vertical turbine pumping machineries, it said adding that the project is scheduled to be completed in 24 months.
Its water division won Rs 26.29 crore project by Karanataka Urban Water Supply and Drainage Board that includes 11 KV express feeder lines for remodelling of water supply distribution system and allied works in Bannur town.
