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Shares of infrastructure firm IL&FS Engineering and Construction Company today rose sharply by over 10 per cent after the company won a Rs 154-crore contract from PowerGrid for transmission line works in Gujarat.
The stock gained 8.57 per cent to Rs 48.75 on the BSE. On the NSE, it soared 10.2 per cent to Rs 48.90.
“IL&FS Engineering and Construction Company and Unitech Power Transmission JV has received letter of award for Rs 153.99 crore turnkey works of 765 kV transmission line in Gujarat from PGCIL,” the company had said in a BSE filing on Friday.
The scope of work includes supply contract for tower package for 765 kV Bhuj-Banaskanta Transmission Line associated with green energy corridor.
“The total value of this contract is Rs 153.99 crore, and the project completion period is 24 months from the date of issue of the letter of award (LoA),” the company had said.
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