IVRCL bags Rs 2,633 cr order; stock surges over 9%

MUMBAI: Shares of infrastructure company IVRCL surged higher in trade after it bagged orders aggregating to Rs 2,632.85 crore from Karnataka government.

The company’s irrigation division bagged orders worth Rs 2,492 crore and water division bagged orders worth Rs 140.85 crore. The water division project has to be completed in a period of 18 months and irrigation division projects are to be completed in 24 to 36 months time.

At 01:00 p.m.; the stock was at Rs 11.19, up 8.96 per cent, on the BSE. It touched a high of Rs 11.30 and a low of Rs 10.20 in trade today. Total traded volumes surged to 13.65 lakh shares against 2-week average of 5.14 lakh shares.