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IVRCL Assets touches the roof on bagging two road projects worth Rs 4,081 crore

03 Apr 2012 Evaluate

IVRCL Assets & Holdings is currently trading at its upper circuit limit of Rs. 56.45, up by 2.65 points or 4.93% from its previous closing of Rs. 53.80 on the BSE.

The scrip opened at Rs. 54.45 and has touched a high and low of Rs. 56.45 and Rs. 54.00 respectively. So far 43576 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 77.40 on 08-Apr-2011 and a 52 week low of Rs. 20.75 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 56.45 and Rs. 45 respectively. The current market cap of the company is Rs. 1090.66 crore.

The promoters holding in the company stood at 82.98% while Institutions and Non-Institutions held 9.03% and 7.99% respectively.

IVRCL Assets & Holdings, a subsidiary of IVRCL Group, has bagged the mandate to develop two road projects in Andhra Pradesh and Punjab, respectively worth about Rs 4,081 crore. The first road order involves six-laning of Gundugolonu-Rajahmundry highway project of National Highway 5 and the second is for four-laning of Patiala-Bhatinda highway project of National Highway 64.

The company is presently engaged in the business of urban infrastructure development. It is a real estate development company focusing on integrated townships, residential developments and commercial projects, including hotels, retail malls, information technology (IT) parks and other projects in various parts of India. During the fiscal year ended March 31, 2008, the company’s business was only within India.

Peers
Company Name CMP
Lodha Developers 853.00
Dilip Buildcon 453.80
DLF 593.00
Oberoi Realty 1694.75
Ahluwalia Contract(I 837.40
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