ITD Cementation Rallies on Winning Order from JNPT

Shares of ITD Cementation rallied 19 per cent to Rs 605 in trades on Friday after the company said that it has won an order from Jawaharlal Nehru Port Trust (JNPT), Mumbai for dredging and reclamation work.

 

The company in a statement to the Bombay Stock Exchange said that it has won order worth Rs 2,168 crore from JNPT for developing JNPT's fourth container terminal on design, operate, finance, and transfer basis for a period of 30 years.

 

ITD Cementation has been associated with JNPT since 1994. The first private project in port sector, NSICT Terminal in the same location was constructed by ITD Cementation, the company said in a press release.

 

Shares of ITD Cementation ended higher by 19 per cent at Rs 606. The stock opened at Rs 512. As many as 1,90,000 shares changed hands on the BSE compared to its two week average of 7300 shares.