IL&FS Engineering advances on bagging road contract worth Rs 242.56 crore in Karnataka

02 Jan 2017

IL&FS Engineering is currently trading at Rs. 44.45, up by 1.90 points or 4.47% from its previous closing of Rs. 42.55 on the BSE.

The scrip opened at Rs. 45.30 and has touched a high and low of Rs. 45.75 and Rs. 44.10 respectively. So far 15,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.05 on 04-Jan-2016 and a 52 week low of Rs. 36.80 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 45.75 and Rs. 39.70 respectively. The current market cap of the company is Rs. 538.55 crore.

The promoters holding in the company stood at 37.50%, while Institutions and Non-Institutions held 10.90% and 51.59% respectively.

IL&FS Engineering and Construction Company has received a Letter of Acceptance (LoA) for a road contract from Ministry of Road Transport & Highways (MoRTH) through CE (NH) PWD, Government of Karnataka for a total value of Rs 242.56 crore.

The project involves widening of two/four lane with paved shoulders from Km 54.37 to Km 101.400 (Bidar to Humnabad) Section of NH-50 on an EPC mode in the state of Karnataka with a completion period of 24 months. The company is currently executing a metro rail contract in Karnataka for Bangalore Metro Rail Corporation for a value of Rs 326.99 crore.

IL&FS Engineering and Construction Company is one of the leading multi-national Infrastructure Development, Construction and Project Management companies with nearly three decades of rich and varied experience in executing landmark projects.

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