Latest news with #ITDCementationIndiaLtd
New Indian Express
5 days ago
- Automotive
- New Indian Express
CMRL achieves milestone as TBM ‘Peacock' completes longest Phase 2 tunnel without disruptions
CHENNAI: CMRL crossed a major engineering milestone on Wednesday with the successful retrieval of tunnel boring machine 'Peacock' at the Kodambakkam ramp near Meenakshi College, completing the longest underground work of its Phase 2 drive without public disruption. The 2.047-km bored tunnel is part of Corridor 4, a 26.8 km stretch that will eventually link Light House and Poonamallee Bypass. The TBM, designated DL-1074, was launched in May 2024 from Panagal Park crossover and has since traversed densely built residential areas, passing under more than 190 buildings — including over 50 ageing structures — and two churches, while boring parallel to an active railway line before cutting across multiple tracks. Despite the engineering complexity and urban sensitivities, CMRL officials confirmed that no damage or disturbance was reported during the entire excavation. The breakthrough marks the completion of the single longest tunnel in Phase 2. CMRL Director (Projects) T Archunan, alongside senior officials from contractor ITD Cementation India Ltd and project consultants, attended the retrieval event at Arcot Road.
Mint
30-06-2025
- Business
- Mint
This multibagger Adani Group stock hits record high on new order win worth ₹580 crore
Shares of multibagger ITD Cementation India Ltd surged nearly 6 percent on Monday, June 30, hitting a record high of ₹ 941.75 after the company announced a significant international contract win. The Adani Group-backed construction firm secured a marine infrastructure project worth $67.4 million (approximately ₹ 580 crore) for jetty construction works in Abu Dhabi, boosting investor sentiment. The stock's remarkable rally reflects growing investor confidence in the company's expanding order book and operational strength. ITD Cementation India revealed on Friday, June 27, that it has been awarded a high-value international marine contract for the Ruwais LNG project in Abu Dhabi. The $67.4 million project involves jetty construction and is a part of the company's routine business operations. While this marks a major international win, the company has also been steadily building its domestic order book. Just last week, ITD Cementation bagged two major domestic projects worth a combined ₹ 960 crore, excluding GST. One of the contracts pertains to construction activities at Trivandrum International Airport in Kerala. The other project is the construction of a multi-storeyed commercial building in Kolkata, West Bengal. Though the company did not disclose client names or execution timelines, the announcements highlight its growing presence in both domestic and international markets. The back-to-back order wins reinforce the company's strong positioning in the infrastructure and construction segment, supported by a well-diversified portfolio that spans airports, marine works, buildings, and metros. For the quarter ended March 31, ITD Cementation India reported a 27 percent year-on-year rise in consolidated net profit to ₹ 113.6 crore. Revenue grew by nearly 10 percent YoY to ₹ 2,478.7 crore, driven by healthy execution across key projects. Operating profit increased 18 percent to ₹ 259.6 crore, while operating margins improved to 10.5 percent from 9.8 percent in the same quarter last year. The board also recommended a dividend of ₹ 2 per equity share for FY25, maintaining its commitment to shareholder returns. From a market standpoint, the company has been a remarkable performer. With today's surge, the stock has rallied over 111 percent from its 52-week low of ₹ 445.60, recorded in July 2024. Over the past year, the stock has gained nearly 69 percent. It rose more than 29 percent in June alone, following a 46.6 percent surge in May. Although it saw a 12.5 percent dip in April, the broader trajectory remains bullish. Over a five-year period, the stock has delivered multibagger returns of 1,505 percent to shareholders.
Mint
30-06-2025
- Business
- Mint
This multibagger Adani Group stock hits record high on new order win worth ₹580 crore
Shares of multibagger ITD Cementation India Ltd surged nearly 6 percent on Monday, June 30, hitting a record high of ₹ 941.75 after the company announced a significant international contract win. The Adani Group-backed construction firm secured a marine infrastructure project worth $67.4 million (approximately ₹ 580 crore) for jetty construction works in Abu Dhabi, boosting investor sentiment. The stock's remarkable rally reflects growing investor confidence in the company's expanding order book and operational strength. ITD Cementation India revealed on Friday, June 27, that it has been awarded a high-value international marine contract for the Ruwais LNG project in Abu Dhabi. The $67.4 million project involves jetty construction and is a part of the company's routine business operations. While this marks a major international win, the company has also been steadily building its domestic order book. Just last week, ITD Cementation bagged two major domestic projects worth a combined ₹ 960 crore, excluding GST. One of the contracts pertains to construction activities at Trivandrum International Airport in Kerala. The other project is the construction of a multi-storeyed commercial building in Kolkata, West Bengal. Though the company did not disclose client names or execution timelines, the announcements highlight its growing presence in both domestic and international markets. The back-to-back order wins reinforce the company's strong positioning in the infrastructure and construction segment, supported by a well-diversified portfolio that spans airports, marine works, buildings, and metros. For the quarter ended March 31, ITD Cementation India reported a 27 percent year-on-year rise in consolidated net profit to ₹ 113.6 crore. Revenue grew by nearly 10 percent YoY to ₹ 2,478.7 crore, driven by healthy execution across key projects. Operating profit increased 18 percent to ₹ 259.6 crore, while operating margins improved to 10.5 percent from 9.8 percent in the same quarter last year. The board also recommended a dividend of ₹ 2 per equity share for FY25, maintaining its commitment to shareholder returns. From a market standpoint, the company has been a remarkable performer. With today's surge, the stock has rallied over 111 percent from its 52-week low of ₹ 445.60, recorded in July 2024. Over the past year, the stock has gained nearly 69 percent. It rose more than 29 percent in June alone, following a 46.6 percent surge in May. Although it saw a 12.5 percent dip in April, the broader trajectory remains bullish. Over a five-year period, the stock has delivered multibagger returns of 1,505 percent to shareholders. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Upturn
30-06-2025
- Business
- Business Upturn
ITD Cementation shares surge 4% after bagging Rs 580 crore contract in Abu Dhabi
Shares of ITD Cementation India Ltd jumped 4% in early trade on Monday after the company announced a major international contract win. The company has secured a US$ 67.4 million (~₹580 crore) marine works order for jetty construction at the Ruwais LNG project in Abu Dhabi, UAE. This prestigious contract adds to ITD Cementation's growing portfolio of overseas infrastructure projects, especially in the marine construction segment. The stock opened at ₹908.95, hit an intraday high of ₹944.00 — which is also its new 52-week high, and touched a low of ₹904.60. The previous 52-week low stands at ₹445.55. As of 9:38 AM, the shares were trading 4.29% higher at Rs 927.55. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
29-05-2025
- Business
- Business Upturn
ITD Cementation names Nitesh Sharma as new CFO amid major board reshuffle following promoter exit
ITD Cementation India Ltd has appointed Nitesh Sharma as its new Chief Financial Officer (CFO) and Key Managerial Personnel, effective June 16, 2025, as part of a sweeping leadership overhaul following a change in promoter ownership. The announcement came during a late-night board meeting on May 28, 2025, and follows the complete exit of Italian Thai Development Public Company Ltd, with Renew Exim DMCC — part of the Adani Group — now taking control of the infrastructure company. Nitesh Sharma, a seasoned finance professional with over 23 years of experience, joins from Adani Connex Pvt Ltd, where he served as Associate Vice President and Finance Controller. His responsibilities spanned financial reporting, treasury management, project financing, capex, taxation, and strategic planning. Board realignment and key resignations In addition to the CFO appointment, ITD Cementation's board approved the induction of two new Non-Executive Non-Independent Directors: Dr. Malay Mahadevia has been named Chairman of the company. Mr. Kattunga Srinivasa Rao has also joined the board in a similar capacity. Both appointments are subject to shareholder approval. Dr. Mahadevia, associated with the Adani Group since 1992, played a pivotal role in developing Mundra Port and holds a Ph.D. in coastal ecology. Mr. Rao brings three decades of expertise in power and infrastructure projects. The leadership transition also included the resignation of former Chairman Piyachai Karnasuta and Executive Vice Chairman Santi Jongkongka, both citing the promoter transition as the reason for stepping down. Their exits were effective post the conclusion of the May 28 board meeting. Outgoing CFO Mr. Prasad Patwardhan will be relieved by May 31, 2025, after submitting his resignation to pursue personal and professional aspirations. Change in Articles of Association The board has also proposed amendments to the company's Articles of Association, removing references to Italian Thai Development and replacing them with Renew Exim DMCC, subject to shareholder approval.
