&w=3840&q=100)
This smallcap infra stock zooms 50% thus far in May; hits record high
Share price of ITD Cementation India
Shares of ITD Cementation India hit a record high of ₹725.90, surging 9.4 per cent on the BSE in Monday's intra-day trade on healthy business outlook. The stock price of this smallcap infrastructure company surpassed its previous high of ₹694.45 touched on October 4, 2024.
In the past two weeks, the ITD Cementation India stock has rallied 34 per cent after the company reported strong earnings for the quarter ended March 2025 (Q4FY25). Thus far in the month of May 2025, ITD Cementation's market price has appreciated by 50 per cent.
At 02:20 PM, ITC Cementation was trading 9 per cent higher at ₹723.50, as compared to 0.5 per cent rise in the BSE Sensex. A combined 2.05 million equity shares changed hands on the NSE and BSE.
ITD Cementation - Q4 results, order wins
In the January to March quarter (Q4FY25), ITD Cementation reported a 27 per cent year-on-year (YoY) jump in consolidated profit after tax at ₹114 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) grew 11 per cent YoY at ₹268 crore. Total operating income increased 10 per cent YoY at ₹2,480 crore.
On May 13, the company announced that it secured a contract worth ~₹593 crore for the construction of various infrastructure works at Jaipur International Airport in Rajasthan.
As of March 31, 2025, ITD Cementation's consolidated order book stood at ₹18,300 crore. The company secured orders worth over ₹7,100 crore in FY25.
Healthy business outlook
The increased thrust from the government towards the infrastructure industry, through a rise in the capital budget allocation, is likely to help with further order inflows for the company. Management is confident about revenue growth, order inflow, and gradual improvement in margins.
The company's management in the Q4 & FY25 earnings conference call said the growth path will continue to, at this rate, around 20 per cent to 25 per cent YoY basis because there is a huge opportunity available in front of the company today.
It's close to ₹90,000 crore job the company will be able to handle through tenders now. And they are largely for marine and underground metros and the airports and underground railway tunnel, road tunnels, some bridges and some buildings and industrial structures, the management said.
For the financial year 2025-26 (FY26), the management expects the top line to grow by 25 per cent and in the same way in the bottom line as well, and gradual improvement in EBITDA margins.
Renew Exim, an Adani entity, completes open offer
Renew Exim, an Adani entity, successfully completed the open offer as a precursor to the acquisition of ITD Cementation. The open offer witnessed tender of 20.83 per cent ITD Cementation shares for which the company has made the full payment. The remaining formalities are being completed to conclude the acquisition of the stake from existing promoters pursuant to share purchase agreement dated October 25, 2024. With the conclusion of the transactions as above, Renew Exim shall hold 67.46 per cent of ITD Cementation.
This acquisition marks a significant milestone as it enhances the overall project execution capabilities of the Adani Group and strategically positions Adani portfolio companies to capitalise on the burgeoning opportunities in the country's booming infrastructure sector, Adani Group said in a press release.
About ITD Cementation India
ITD Cementation has a diversified portfolio across all verticals with expertise for disciplined project execution. It has established itself as a leading name in the construction of offshore maritime structures, ports, mass rapid transit systems, including elevated corridors and underground metro stations, buildings and tunnels, industrial structures, including airport terminal buildings and technological buildings, hydroelectric power plants with dams, irrigation projects, and micro tunneling works within cities, foundation and specialist engineering with reclamation and ground improvement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
3 hours ago
- Hans India
Markets rally on RBI's surprise 50 bps rate cut
Mumbai: Benchmark equity indices surged on Friday, with the Sensex climbing 746.95 points and Nifty reclaiming the 25,000-level after the RBI cut interest rates by more-than-expected 50 basis points -- a third consecutive reduction -- and reduced the cash reserve ratio for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. Recovering all the early lost ground, the 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,188.99. During the day, it surged 857.85 points, or 1.05 per cent, to 82,299.89. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. Interest-rate-sensitive realty index jumped 4.74 per cent, while auto index went up 1.50 per cent and bankex climbed 1.25 per cent. The Reserve Bank of India's (RBI's) six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also cut the cash reserve ratio by 100 basis points to 3 per cent, adding Rs 2.5 lakh crore to already surplus liquidity in the banking system. With the latest reduction, the RBI has cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February -- the first cut since May 2020 -- and another similar-sized cut in April. The central bank, at the same time, changed its monetary policy stance to 'neutral' from accommodative, with Malhotra saying further action will depend on incoming data. 'The Indian stock market responded optimistically to the RBI's surprise and aggressive growth push policy. The tremendous rate cut and liquidity boost via the CRR cut is expected to facilitate swift transmission of lower rates, reinforcing the RBI's strong commitment to fostering economic growth, boosting investment, and stimulating consumption. 'Rate-sensitive sectors, including banking, real estate, automobiles, and consumer durables are leading the rally,' Vinod Nair, Head of Research, Geojit Investments Ltd, said. From the Sensex firms, Bajaj Finance surged 4.93 per cent and Axis Bank climbed 3.15 per cent. Maruti, IndusInd Bank, Bajaj Finserv, Eternal, Mahindra & Mahindra, Tata Steel, Kotak Mahindra Bank, Titan, HDFC Bank, and NTPC were among the other major gainers. Bharti Airtel and Sun Pharma were the laggards. 'A third straight cut in repo rates this year with 50 bps cut instead of an estimate of 25 bps is a pleasant move.
Time of India
7 hours ago
- Time of India
RBI Hits the Bull's Eye: Stocks Surge 1%
Live Events Equities surged about 1% Friday as the Reserve Bank of India 's bigger-than-expected cut in the key policy rate and the surprise move to ease liquidity came as an impetus to a market starved of fresh triggers. Shares of lenders, real estate developers and automobile makers led the rise, with the Nifty Bank index hitting a record on expectations that the central bank's measures will ease pressure on their profitability and boost BSE Sensex rose 746.95 points to end at 82,188. The NSE Nifty 50 advanced 252.15 points to close at 25,003. 'The most important point is that monetary policy is supportive of growth and growth is good for equities,' said Ramesh Mantri, CIO, WhiteOak Capital rally on Friday helped the Sensex and Nifty post nearly 1% gains for the week and snap their two-week losing streak. Continuation of the trend will depend on the Nifty crossing a key hurdle at 25,120-25,200, beyond which it could advance to 25,500, say market watchers. Among sectoral indices, the Nifty Bank and Nifty Auto rose 1.5% each, while the Nifty Realty shot up by about 5%.'The frontloading of rate cuts augurs well for finance companies, real estate, auto and banking,' said Sunny Agrawal, head of fundamental equity research, SBI Securities.'This (frontloading of rate cuts) will have a lag effect on NII (net interest income) and immediate impact of boost in treasury income and also on urban consumption,' said greater-than-expected interest rate cut of 50 basis points and the liquidity dose were positive surprises. But the central bank's policy stance shift to 'neutral' from 'accommodative' and governor Sanjay Malhotra's remark that monetary policy is left with 'very limited space' to support growth may keep the optimism in are reasonable, except for 'narrative-driven' sectors, said Mirae Asset Investment Managers CIO Neelesh Surana, while warning investors to moderate their expectation of returns from equity. 'New investors could consider hybrid funds and avoid thematic funds,' said broader market also ended higher, with the Nifty Midcap 150 rising nearly 1% and the Nifty Smallcap 250 up 0.6%. Of the 4,156 stocks traded on the BSE, 2,278 advanced, while 1,744 Volatility Index, or VIX, the market's fear measure, declined 3% to 14.3, in line with the market rise, suggesting traders do not see risks of sharp moves in the near Asian markets, sentiment remained tepid. Chinese and Hong Kong equities ended slightly lower after a call between US and Chinese leaders failed to show progress on trade. The Shanghai Composite was flat, and the Hang Seng slipped 0.5%.At home, foreign portfolio investors (FPIs) were net buyers, purchasing shares worth Rs 1,010 crore on Friday. So far in June, they have been sellers to the tune of about ₹7,700 crore. Domestic institutional investors (DIIs) bought shares worth ₹9,342 crore on Friday Fund managers said the fall in interest rates could make equities more popular than fixed income.'The competition for interest rates is equities but as we see debt yields are falling, equities are likely to become more attractive,' said Mantri.
Time of India
11 hours ago
- Time of India
Sensex up 747 pts on 'jumbo' rate cut, eco growth thrust
MUMBAI: The sensex rallied 747 points (0.9%) on Friday to close at 82,189 points after RBI cut interest rate by 50 basis points (100bps = 1 percentage point), a move that market players feel has the potential to spur economic growth with loans becoming cheaper. Tired of too many ads? go ad free now Banking and financial stocks led the day's rally that added about Rs 3.6 lakh crore to investors' wealth with BSE's market capitalisation now at slightly over Rs 451 lakh crore. Nifty closed 249 points (1%) higher at 25,003 points. Most market players said that although a cut in interest rate by RBI was almost a given, the quantum of the cut - 50bps against an expected 25bps - surprised most. Domestic funds led the day's buying with a net inflow of Rs 9,342 crore while foreign funds were net buyers at Rs 1,010 crore, BSE data showed. Dhiraj Relli, MD & CEO, HDFC Securities, said RBI's decision - 'a jumbo rate cut' - would provide significant market relief as this, along with the 100bps reduction in cash reserve ratio, is set to inject approximately Rs 2.5 lakh crore in liquidity by Nov, directly strengthening bank margins in H2 FY26 and fostering private investment growth.
