ITD Cementation India shines on bagging order worth Rs. 3400 crore

Today, ITD Cementation India informed the bourses that it has secured order worth Rs. 3,400 crores from various government entities. 

The order includes: 

Designing and construction of Underground Structures (Tunnels and 4 Stations) of length around 4.591 Km for Bangalore Metro Rail Corporation. 

Tunnelling works on Sivok (West Bengal) to Rangpo (Sikkim) New Single Broad-Gauge Railway Line Project, comprising of the construction of 6 Tunnels bagged from IRCON International. 

Construction of Sewer Tunnel and allied works along S.V. Road by Segmental Tunneling Method. This order was received from Municipal Corporation of Greater Mumbai. 

As on Q2FY20, the company holds strong order book of Rs. 11,045.3 crores executable over a period of approximately 30 months. This gives strong revenue visibility for the company. 

With response to this positive development, the stock of ITD Cementation surge on the bourses. The stock ,which opened at Rs. 63, jumped nearly 5 per cent to touch intra-day high of Rs. 66.05 apiece.