ITD Cementation shares hit 52-week high on bagging Rs 1,001-crore order

ITD Cementation India: The engineering and construction company has secured a contract for civil and hydromechanical works of 500 MW hydel power and a pumped storage project worth Rs 1,001 crore in Andhra Pradesh.

The share price of ITD Cementation India gained 10 percent to hit its 52-week high in early trade on December 1 after the company secured an order worth approximately Rs 1,001 crore.

At 9:22am, ITD Cementation India was quoting at Rs 297.45, up Rs 27, or 9.98 percent, and touched a 52-week high of Rs 305.

"We have won a contract for civil and hydro mechanical works of 500 MW hydel power, pumped storage project worth approximately Rs 1,001 crore excluding GST in Andhra Pradesh," the company said.

It had reported 171.5 percent surge in its September quarter net profit at Rs 53.62 crore. The company is undertaking heavy civil, infrastructure and EPC business with an established presence and expertise in maritime structures, mass rapid transit systems, airports, hydro-electric power, tunnels, dams and irrigation, highways, bridges and flyovers, industrial structures and buildings, foundation and specialist engineering.