IL&FS Engineering Surges 9% On Winning Contract From GAIL

New Delhi: Shares of IL&FS Engineering and Construction Company today surged nearly 9 per cent after the company won a Rs 173 crore contract from GAIL for laying and construction of a pipeline along with associated works.  

The stock soared 8.16 per cent to Rs 60.95 on BSE. 

At NSE, shares of the company zoomed 8.78 per cent to Rs 61.30. 

The works pertain to Kochi-Koottanad-Bangalore-Mangalore Pipeline Project Phase-II in Kerala. 

"The total length of the 30-inch pipeline is 91 km. The value of the contract is Rs 173.13 crore (plus service tax), and is to be mechanically completed in 24 months," the company said in a statement yesterday. 

The company is already executing an EPC (engineering, procurement and construction) contract for GAIL for laying and construction of a pipeline along with associated works for Pipeline Replacement Project in Gujarat region, it said. 

L&FS Engineering Services is an infrastructure development, construction and project management company with nearly three decades of experience in executing landmark projects.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)