IL&FS Engineering is on a roll today. The stock price has currently spurted up over 19% at Rs.71.55, with an intra day high of Rs.72. Volumes are HUGE – over 3 lakh shares changed hands compared to 20,000 shares over a two-week average.

The market is happy that the company has received a Letter of Acceptance (LoA) from Ministry of Road Transport and Highways (MoRTH) for a total value of Rs. 675 crore. This is Rehabilitation and Upgradation to 2 Lanes with Paved Shoulders Configuration and Strengthening of Birpur-Bihpur Section (from km. 0.0 to km 106) of NH-106 in the state of Bihar under Phase-I of NHDP.

The Project involves Engineering, Procurement, and Construction (EPC) with a completion period of 36 months.