IL&FS Eng hits the roof
By
Research Desk
about 11 years ago
A little over a month ago, IL&FS Engineering had hit a new 52-week low at Rs.19.40 and today, it has hit the 10% upper circuit at Rs.28.75, with volumes doubling up.
The stock has hit the roof, reacting to the news which came in yesterday after market closure. The company announced having received an order worth Rs.244.46 crore from Emaar MGF. The order is for construction of civil structure and related works of 150 residential villas in Gurgaon, Haryana, named Marbella. This is to be delivered in 30 months.
The company is already executing another Rs.475 crore worth order from the same company – Emaar MGF, again in Gurgaon.