IVRCL surges nearly 9% on bagging orders worth Rs 1256 crore

MUMBAI: Shares of IVRCL, an EPC and infrastructure company, surged nearly 9 per cent in trade after the company bagged orders worth Rs 1255.67 crores.

IVRCL’s irrigation division bagged Rs 1022.58 crore order from Karanataka Neeravari Nigam for Tubchi-Babaleshwar lift heads works under lift irrigation scheme. The project is to be completed in 24 months.

Its water division bagged orders worth Rs 137.49 crore and Rs 95.60 crore from BHEL and Maharashtra Jeevan Pradhikaran respectively.

The BHEL project is to be completed in time period of 27 months and the Maharashtra Jeevan Pradhikaran is to be completed in 36 months.

At 10:30 a.m.; the stock was at Rs 15.50, up 5.44 per cent, on the BSE. It rallied 8.84 per cent to touch intraday high of Rs 16 in trade today.