IL&FS Engineering Jumps 80% in 2 Weeks; Hits New 52-Week High

Shares of IL&FS Engineering and Construction Company surged over 80 per cent in the last two weeks to hit fresh 52-week high of Rs 108.15 on Monday.

IL&FS Engineering had reported third quarter standalone net profit of Rs 76.52 crore as against a loss of Rs 57.48 crore on a year on year basis.

Total income of the company jumped 46 per cent to Rs 679.63 crore versus Rs 466.35 crore annually.

The company executes projects under various domains such as buildings & structures, roads, railways, irrigation, power, ports, and oil & gas. The company is promoted by the Central Bank of India, Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI).

Trading volumes on the counter surged on the BSE as 4.9 million shares changed hands compared to its two week average volume of 2.39 lakh shares. Its shares closed 10 per cent higher at Rs 108.15 apiece on Monday.