IL&FS Engineering and Construction Company is locked at upper circuit limit of Rs. 36.55, up by 1.70 points or 4.88% from its previous closing of Rs. 34.85 on the BSE.
The scrip opened at Rs. 35.70 and has touched a high and low of Rs. 36.55 and Rs. 35.70 respectively. So far 3,333 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 67.95 on 28-Jan-2013 and a 52 week low of Rs. 19.40 on 02-Aug-2013.
Last one week high and low of the scrip stood at Rs. 34.85 and Rs. 30.45 respectively. The current market cap of the company is Rs. 328.00 crore.
The promoters holding in the company stood at 29.78% while Institutions and Non-Institutions held 17.31% and 52.91% respectively.
IL&FS Engineering and Construction Company has received a Letter of Award (LoA) from Neelkamal Realtor Tower (NRTPL) for construction of 'Orchid Heights', a high-rise residential project at Byculla in Mumbai. The total value of Shell & Core portion of the contract is Rs 675 crore, which is to be completed in 39 months. The timeline for committed scope of Finishing, and Mechanical, Electrical and Plumbing (MEP) work shall get decided during the course of execution which will further enhance the contract value.
The 'Orchid Heights' project has two high rise towers - Tower A and Tower B having heights of about 274 mt, and 201 mt respectively with total built-up area of around 28,22,134 sq.ft. This project would be the first work in Mumbai for the Company. Being a very tall structure, it opens up the market for the Company in this segment for such high rise towers not only in Mumbai but all over India.
The Company now enters into a select group of companies that execute such high rise buildings with modern and most sophisticated methods of System Formworks and sophisticated machinery.
IL&FS Engineering and Construction Company is engaged in infrastructure development, construction and project management. The company has undertaken projects in segments such as roads/ expressways/ highways, buildings and industrial structures, irrigation canals and dams and thermal and hydel power.