There has been a rapid rise in the shares of civil construction company ITD Cementation. Shares of ITD Cementation reached Rs 644.40 on Thursday with an upper circuit of 20 percent. This sharp rise in the company’s shares has come due to receiving a big order. For the second time in the last 10 trading sessions, ITD Cementation shares have jumped 20%. The company’s shares reached its new 52-week high of Rs 644.40 on Thursday.
Company got order worth Rs 1937 crore
ITD Cementation said in an exchange filing on Thursday that it has won a contract to build a multistorey commercial building in Uttar Pradesh. The total value of this contract is Rs 1937 crore. ITD Cementation has not yet given details of the timeline of this contract. Also, the company has not revealed what its current order book has become after this recent order.
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Shares rose by 186% in one year
ITD Cementation shares have seen a jump of 186% in the last one year. Shares of the civil construction company were at Rs 224.85 on October 3, 2023. The shares of the company have reached Rs 644.40 on 3 October 2024. So far this year, the company’s shares have risen by about 122%. At the same time, shares of ITD Cementation have increased by more than 88% in the last 6 months. The 52-week low level of the company’s shares is Rs 188.20.
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The company has been in the news
ITD Cementation has been in the news recently regarding the sale of its promoter’s stake. Many companies are in the race to buy stake. Adani Group’s name also came up in the race to buy the promoter’s stake. This was said in a report by CNCB-TV 18. ITD Cementation had informed the exchanges on July 3 that its promoters wanted to sell their investments in the Indian unit.
