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IVRCL surges as its SPV commences toll collection at Chengapalli Tollways

15 Oct 2015 Evaluate

IVRCL is currently trading at Rs. 10.51, up by 1.04 points or 10.98% from its previous closing of Rs. 9.47 on the BSE.

The scrip opened at Rs. 10.50 and has touched a high and low of Rs. 10.85 and Rs. 10.01 respectively. So far 19,54,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 21.40 on 05-Nov-2014 and a 52 week low of Rs. 6.52 on 21-Sep-2015.

Last one week high and low of the scrip stood at Rs. 10.85 and Rs. 8.03 respectively. The current market cap of the company is Rs. 533.00 crore.

The promoters holding in the company stood at 8.70% while Institutions and Non-Institutions held 42.06% and 49.25% respectively.

IVRCL’s Special Purpose Vehicle (SPV) - IVRCL Chengapalli Tollways (ICTL) has obtained the provisional certificate for commercial operation and toll collection started from October 14, 2015. This is one of the projects out of 3 projects which the company entered Share Purchase Agreement with TRIL.

ICTL was formed for implementing the project (falling under NHDP Phase-Ill B programme) envisaging 4/6 laning of the road in Chengapalli - Coimbatore - Walayar (Tamil Nadu / Kerala Border) of NH-47 in the state of Tamil Nadu being executed as BOT (Toll) on Design, Build, Finance, Operate and Transfer (DBFOT) basis.

IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.


Peers
Company Name CMP
Larsen & Toubro 4094.95
Rail Vikas Nigam 303.10
NCC 161.30
KEC International 580.10
Kalpataru Projects 1232.90
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