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ITD Cementation soars as its JV bags order worth Rs 546 crore from DMRC

03 Jan 2013

ITD Cementation is currently trading at Rs. 254.95., up by 5.85 points or 2.35% from its previous closing of Rs. 249.10 on the BSE.

The scrip opened at Rs. 252.00 and has touched a high and low of Rs. 260.00 and Rs. 249.75 respectively. So far 5,527 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 275.85 on 05-Nov-2012 and a 52 week low of Rs. 118.00 on 07-Jan-2012.

Last one week high and low of the scrip stood at Rs. 256.95 and Rs. 235.00 respectively. The current market cap of the company is Rs. 293 crore.

The promoters holding in the company stood at 69.57% while Institutions and Non-Institutions held 0.79% and 29.64% respectively.

ITD Cementation India’s Joint Venture (JV) with its parent, Italian - Thai Development Public Company, Thailand (ITD, Thailand) has received an order from the Delhi Metro Rail Corporation (DMRC). This project includes construction of a 9035 m long elevated metro track along with 8 elevated stations and the scope of work includes Architectural Finishing, Water Supply, Sanitary Installation and Drainage Works. The project is scheduled for completion in 30 months.

The joint venture has recently completed a Rs 189 crore contract for DMRC for the construction of Viaduct and Structural work of five stations on the Qutub Minar - Gurgaon Corridor of the Delhi MRTS project. The JV has also completed a Rs 893 crore contract for DMRC for the construction of a 8,326 m long twin bored underground metro tunnel with advanced tunnel boring machine including three underground stations at Khan Market, Jawaharlal Nehru Stadium and Jangpura station on Central Secretarial - Badarpur Corridor for the Delhi MRTS. The project was complete two month ahead of schedule.

ITD cementation operates in 3 business divisions which include bridges and industries division which is involved in construction of flyovers and bridges, steel and petrochemical plants, refiners, technical centers, and shopping malls, marine division which undertakes the construction of quays which handle cargo at ports and specialist engineering division which constructs railways and roads, power stations for hydroelectricity, diaphragm walling, and piling.    

Related ITD Cementation India Ltd. Links:

ITD Cementation Share Price

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