ITD Cementation bags order worth Rs. 1100 crore

Mumbai headquartered ITD Cementation, on Friday, informed in a press release that the company has received Letter of Award (LoA) from Central Public works department.

The construction company, in a press release stated that it has received Letter of Award (LoA) which valued worth Rs. 1100 crore from Central Public Works Dept of Government of India. The scope of order is for redevelopment of general pool residential colony at Kasturba Nagar in New Delhi including double level basement, podium parking and facilities, all development works and services on EPC basis. The overall order book of the company as of end of first quarter of FY20 stood at Rs. 10155 crore.

ITD Cementation is involved in construction and civil engineering. The company is engaged in construction of a range of structures, which include maritime structures, mass rapid transport systems (MRTS), airports and other foundations. It is also engaged in the construction of marine structures, hydro & tunnel projects, airports, highways and bridges etc.

The stock reacted positively to the news and touched its intra-day high of Rs. 73.55, jumping 4 per cent from its previous close. It closed the Friday session at Rs. 70.85, up by 0.50 per cent on BSE. The benchmark index BSE Sensex ended at 37,385, up by 281 points.