1. IL&FS Engineering shares rise 8% intraday after JV bags contract worth Rs 154 cr

IL&FS Engineering shares rise 8% intraday after JV bags contract worth Rs 154 cr

IL&FS Engineering shares surged over 8 per cent intraday on Monday after it informed bourses that a JV between the company and Unitech Power Transmission has won a contract from Power Grid for transmission line works in Gujarat

By: | New Delhi | Updated: March 28, 2016 4:35 PM
il&fs engineering shares, BSE SENSEX IL&FS Engineering shares surged over 8 per cent intraday on Monday after it informed bourses that a JV between the company and Unitech Power Transmission has won a contract from Power Grid for transmission line works in Gujarat (Photo: PTI)

Shares of IL&FS Engineering and Construction Company surged over 8 per cent intraday on Monday after it informed bourses that a joint venture (JV) between the company and Unitech Power Transmission has won a Rs 153.99-crore contract from Power Grid for transmission line works in Gujarat.

In a BSE filing, the company said, “IL&FS Engineering and Construction Company and Unitech Power Transmission JV has received letter of award for Rs 153.99 crore turnkey works of 765 kV transmission line in Gujarat from Power Grid Corporation of India Ltd.”

The scope of work includes Supply Contract for Tower Package-TW02 for 765kV D/C Bhuj-Banaskanta Transmission Line (Part II) associated with Green Energy Corridors. The project completion period is 24 months from the date of issue of the Letter of Award.

The contract has been won under International Competitive Bidding (ICB) process, and the project is funded by The KFW Bank. Later, the scrip closed 1.22 per cent up at Rs 45.45.

Calculate your income tax post budget 2018 through this Income Tax Calculator, get latest news on Budget 2018 and Auto Expo 2018. Like us on Facebook and follow us on Twitter.

  1. A
    Ashish
    Mar 28, 2016 at 11:57 am
    Markets never crash altogether. It’s impossible as per economics. Present crash is limited to equity & oil whereas gold is witnessing a boom. Visit prudentcap dot in to explore more .
    Reply

    Go to Top