ITD Cementation Stock Soars 4% Following $67.4 Million LNG Project Win, ET Infra
ITD Cementation share price performance
Shares of ITD Cementation India rallied 4.4 per cent to an intraday high of ₹929 on the BSE on Monday, June 30, following the announcement of a significant international marine contract worth $67.4 million (approximately ₹580 crore).The contract has been awarded for jetty construction works for the Ruwais LNG project in Abu Dhabi 'This is to inform you that ITD Cementation India Limited has secured International Marine Contract worth $67.4 Million (₹580 Crore),' the company informed via a regulatory filing to the stock exchanges.In its stock exchange filing, ITD Cementation stated that the agreement falls within the ordinary course of business for the company. The company confirmed that the new order pertains to the construction of marine infrastructure and reinforces its position in the international engineering and construction segment.ITD Cementation India, a well-established engineering and construction company, has been operating in India for nearly nine decades. The firm undertakes a broad range of projects in heavy civil, infrastructure, and EPC domains.It holds established expertise in maritime structures, mass rapid transit systems, hydro-electric power, tunnels, dams, irrigation, highways, bridges, flyovers, industrial structures, and buildings. The company also engages in water and wastewater management and specialist foundation engineering.Over the past one year, the shares of ITD Cementation have delivered a return of 71.14 per cent, while the year-to-date (YTD) gain stands at 63.98 per cent. In the last six months, the stock has risen by 67.17 per cent, and over the past three months, it has advanced 60.26 per cent. For the one-month period, the stock has posted a gain of 22.26 per cent.The shares of ITD Cementation closed 1.4 per cent higher at ₹889.50 on the BSE on Friday.
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