IVRCL soars on bagging orders aggregating worth Rs 378.36 crore

IVRCL is currently trading at Rs. 35.15, up by 2.15 points or 6.52% from its previous closing of Rs. 33.00 on the BSE.

The scrip opened at Rs. 34.00 and has touched a high and low of Rs. 35.70 and Rs. 30.25 respectively. So far 46, 15,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 75.20 on 13-Apr-2012 and a 52 week low of Rs. 30.25 on 24-Jan-2013.

Last one week high and low of the scrip stood at Rs. 43.90 and Rs. 31.80 respectively. The current market cap of the company is Rs. 1,078 crore.

The promoters holding in the company stood at 13.70% while Institutions and Non-Institutions held 26.37% and 59.94% respectively.

IVRCL has bagged project aggregating worth Rs 378.36 crore under its Water division and Transportation division. Under Water division, the company has bagged project worth Rs 360.75 crore. The first order is from HMWSSB - KDWSP- Phase-III for manufacturing, supplying, lowering, laying, jointing, testing and commissioning of 2375mm diameter MS pumping main with cement mortar in-lining and out-coating from CWR at Nasarlapally to CWR at Godakondla (along with Nagarjunasagar - Hyderabad road from Km 82/2 to 59/6 Km) including manning, operation and maintenance for a period of 2 years-Package-II, awarded by Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB), Hyderabad, The value of work is Rs 205.86 crore and the completion period is 14 months.

The second order is for civil works for makeup water system package for Muzaffarpur TPP, Stage-II (2x195 MW), awarded by Kanti Bijlee Uptadan Nigam (a subsidiary of NTPC), Bihar. The value of the work is Rs 83.61 crore and the completion period is 28 months.

Besides, the third project bagged by the company is for surveying, collection of hydrological data, design, detailed engineering, construction, supply, installation, commissioning of 7.30 MLD (Million liter per day) capacity surface water based multi-village water supply scheme for the arsenic-affected areas of Sultanganj & Nathnagar blocks of Bagalpur district on turnkey basis with six months trail run, and thereafter operation and maintenance of the scheme for sixty months, awarded by Public Health Engineering Department, Government of Bihar. The value of the work is Rs 71.28 crroe and the completion period is 18 months.

Under Transportation division, the company has bagged order worth Rs 17.61 crore. The order is for construction of two lane road from lndore Airport to Pithampur, awarded by M.P. Audyogik Kendra Vikas Nigam, Indore (a Government of MP undertaking and subsidiary of MPSIDC). The completion period is 14 months.