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07-Sep2016

IL&FS Engineering surges on receiving FOA from GAIL

IL&FS Engineering and Construction Company is currently trading at Rs. 58.35, up by 2.00 points or 3.55% from its previous closing of Rs. 58.30 on the BSE.

The scrip opened at Rs. 59.40 and has touched a high and low of Rs. 60.95 and Rs. 57.25 respectively. So far 79,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 80.75 on 14-Oct-2015 and a 52 week low of Rs. 39.15 on 23-May-2016.

Last one week high and low of the scrip stood at Rs. 60.95 and Rs. 47.85 respectively. The current market cap of the company is Rs. 706.36 crore.

The promoters holding in the company stood at 37.50%, while Institutions and Non-Institutions held 10.94% and 51.55% respectively.

IL&FS Engineering and Construction Company (IL&FS Engineering Services) has received the Fax of Acceptance (FOA) from Gas Authority of India (GAIL),  for Laying and Construction of Pipeline along with Associated Works of Section I Pipeline from Dispatch Terminal at Existing IP Station-1 at FACT Udyog Mandal of Phase-1 at Chainage 0.000 Km. to IP Station-1 of Phase-II at approximately Chainage 90.615 Km. at Koottanad including Station Works at Dispatch Terminal at existing IP Station-1, SV-1, SV-2, SV-3, SV-4, & SV-5 and IP Station-1 at Koottanad of Kochi-Koottanad-Bangalore-Mangalore Pipeline Project Phase-II in Kerala.

The total length of the 30” pipeline is 91 Km. The total value of the contract is Rs 173.13 crore and is to be mechanically completed in 24 months from date of FOA and with additional 2 months for commissioning and GAS-IN.

IL&FS Engineering and Construction Company (IL&FS Engineering Services) is an India-based multi-national infrastructure development, construction and project management company. The company is engaged in the development of projects under various domains, such as buildings and structures, roads, railways, irrigation, power, ports, and oil and gas.




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