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IL & FS Engineering and Construction company shares hit 5 per cent upper circuit in Monday's trade on BSE at Rs 41.05 per share. The stock rallied after the company was retained for sub-contracting work at Bhubaneswar Metro Phase-I from Ceigall India. The project has to be completed within 18 months and is worth 302.82 crore.
Around 12:04 PM, IL & FS share price was up 4.99 per cent at Rs 41.05 per share on BSE. In comparison, the BSE Sensex was up 0.42 per cent at 79,027.04. The market capitalisation of the company stood at Rs 538.25 crore. The 52-week high of the stock stood at Rs 53.98 per share and the 52-week low stood at Rs 19.05 per share.
"Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 please be disclosed that the Company has been retained to Part Design and Construction of Elevated Viaduct 15095.24m to 26052.77m including ramp for Depot entry and restoration works within the barrication of Bhubaneswar Metro Phase-I MRTS on back-to-back basis through a sub-contract agreement," the filing read.
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IL&FS Engineering and Construction Company, a subsidiary of IL&FS Group, is a leading Indian infrastructure development firm specializing in engineering, procurement, and construction (EPC) services. The company focuses on executing large-scale projects across sectors such as transportation, water management, power, and urban infrastructure. It has been involved in constructing national highways, railways, bridges, water supply systems, and power transmission lines. With expertise in project execution, IL&FS Engineering and Construction handles everything from design to commissioning, delivering complex infrastructure projects.
Despite challenges due to the financial crisis faced by its parent company in 2018, the company continues to work on ongoing projects, contributing significantly to India’s infrastructure growth and sustainable development.
In the past one year, IL & FS Engineering and Construction shares have gained 24.8 per cent against Sensex's rise of 9 per cent.
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