Mid-cap stock ITD Cementation India skyrockets 9% on receipt of ₹893 crore contract
Stock Market Today: Mid-cap stock ITD Cementation India saw its share price skyrocket more than 9% in the morning trades on Tuesday as it announced receipt of ₹ 893 crore contract. The announcement was made on on Monday but after the market hours.
ITD Cementation India informed the investors through its filing on the exchanges on Monday 9 June 2024 that has secured a new Contract worth ~ ₹ 893 Crore including GST.
The secured contract worth ₹ 893 crore including GST, by ITD Cementation India is for construction of Berth & Breakwater for the development of Greenfield Captive Jetty(s) in Odisha, as per the company's intimation to the National Stock Exchange of India Ltd and the BSE or the Bombay Stock Exchange of India.
With a well-established presence and expertise in Maritime Structures, Mass Rapid Transit Systems, Airports, Hydro-Electric Power, Tunnels, Dams & Irrigation, Highways, Bridges & Flyovers, Industrial Structures & Buildings, Water & Waste Water, and Foundation & Specialist Engineering, ITD Cementation India Limited is one of the key engineering and construction companies engaged in heavy civil, infrastructure, and EPC business. The company has been operating in India for nine decades.
ITD Cementation India saw its share price open at ₹ 800 on the BSE on Tuesday. The Mid-cap stock ITD Cementation India share price at the time of opening was up more than 5% over the previous trading sessions closing price of ₹ 760.20. The ITD Cementation India share price however jumped to intraday highs of ₹ 830.65 and this meant gains of more than 9% during the intraday trades.
The large order secured by ITD Cementation India has lifted investor sentiments as has improved the revenue visibility. The Mid-cap stock ITD Cementation India has risen close to 50% in last one month. The Mid-cap stock ITD Cementation India is a Multibagger stock too having risen more than 1750% in last 5 years
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