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IL&FS Engineering shines on receiving LoIs worth Rs 222.7 crore in Jharkhand

IL&FS Engineering and Construction Company is currently trading at Rs. 57.60, up by 2.10 points or 3.78% from its previous closing of Rs. 55.50 on the BSE.

The scrip opened at Rs. 58.05 and has touched a high and low of Rs. 59.90 and Rs. 56.95 respectively. So far 16624 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 66.00 on 09-Sep-2016 and a 52 week low of Rs. 36.80 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 63.00 and Rs. 54.95 respectively. The current market cap of the company is Rs. 696.66 crore.

The promoters holding in the company stood at 37.50%, while institutions and non-institutions held 10.91% and 51.58% respectively.

IL&FS Engineering and Construction Company has received Letter of Intents (LoIs) for Rural Electrification (RE) Works of Jharkhand Bijli Vitran Nigam (JBVNL), Ranchi worth Rs 222.7 crore in package of Sahibganj comprising Sahibganj and Pakur districts in Jharkhand state under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY).

The scope of work includes supply and erection of all equipment and materials related to the contract for RE infrastructure development for connecting unconnected house-holds, agricultural feeder segregation, system strengthening & metering works. These Projects are covered under DDUGJY of Rural Electrification Corporation and are funded by it under the Government of India Central Plan. The completion schedule of the works is 24 months.

The company has recently won RE works worth Rs 515.47 crore. The company is currently executing RE works worth more than Rs 1,290 crore that involves works electrifying around 9000 villages.

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