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  1. ITD Cementation, J Kumar, HCC, L&T shares gain on Mumbai Metro orders

ITD Cementation, J Kumar, HCC, L&T shares gain on Mumbai Metro orders

Larsen & Toubro, J Kumar Infraprojects, ITD Cementation and HCC gained on Thursday after they won contracts from the Mumbai Metro Rail Corporation as part of third phase of the metro network in the city.

By: | New Delhi | Updated: July 7, 2016 9:56 AM
Sensex, Nifty, BSE, NSE, mumbai metro Larsen & Toubro, J Kumar Infraprojects, ITD Cementation and HCC gained on Thursday after they won contracts from the Mumbai Metro Rail Corporation as part of third phase of the metro network in the city. (Reuters)

Larsen & Toubro, J Kumar Infraprojects, ITD Cementation and HCC gained on Thursday after they won contracts from the Mumbai Metro Rail Corporation as part of third phase of the metro network.

Cheering the news, shares of ITD Cementation surged as much as 11.69 per cent in the early trade. The scrip opened the day at Rs 147.10 and has touched a high and low of Rs 160.45 and Rs 147.10, respectively, in trade so far. ITD Cementation joint venture received an order for designing and construction of underground sections including 3 underground stations at Siddhivinayak, Dadar and Shitaladevi Temple and Associated Bored Tunnels. The total value of the contract is around Rs 2,830 crore.

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J Kumar Infraprojects shares gained nearly 6 per cent in the early trade. Shares of the company opened the day at Rs 248.90 and has touched a high and low of Rs 256.65 and Rs 245.55, respectively, in trade so far. Infrastructure company J Kumar Infraprojects Ltd on Tuesday said its joint venture (JV) has won a contract worth about Rs 5,012 crore from Mumbai Metro Rail Corporation Ltd MMRCL) for Metro Line 3 project.

Larsen & Toubro gained and Hindustan Construction Company (HCC) were also trading higher in the early trade. Shares of HCC were trading nearly 3 per cent up at Rs 23.70 (at 9.41 am). L&T was trading 0.05 per cent up at the same time. Both of these companies made the announcement about the contract on Tuesday during the market hours.

HCC on Tuesday said its joint venture with MMS of Russia has won a Rs 2,523 crore order from Mumbai Metro Rail Corporation Ltd (MMRCL). HCC is the lead partner in the joint venture (JV).

MMRCL has awarded a Rs 5,273-crore contract to L&T, the scope of which includes design and construction of underground stations and associated tunnels for package-1 and package-7 of the Metro III project. L&T will have to construct underground stations at Cuffe Parade, Vidhan Bhavan, Church Gate, Hutatma Chowk with associated tunnels from Cuffe Parade to CST for package-1 and underground stations at Marol Naka, MIDC and SEEPZ with associated tunnels from International Airport to SEEPZ for package-7.

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