Great news for ITD Cementation India! This construction and engineering company just got a big contract to do important work on a 500 MW hydel power and pumped storage project in Andhra Pradesh. This whole project is valued at a massive Rs 1,001 crore.
As soon as this news came out, people got really excited, and the company’s share price jumped by 10%, hitting its highest point in the last 52 weeks. At 9:22 am on December 1, the share price was Rs 297.45, up by Rs 27, almost 10%, and it even touched a super high point of Rs 305.
The company said, “We’re going to do the civil and hydromechanical work for this big project in Andhra Pradesh.”
Just a while back, in the September quarter, ITD Cementation India’s net profit went up by a huge 171.5%, reaching Rs 53.62 crore.
This company is into some serious construction work, like building airports, dams, and power projects. And now, with this new project, they’re stepping into the spotlight even more! Great going, ITD Cementation India!
