IVRCL shines on bagging orders worth Rs 1,867.19 crore

IVRCL is currently trading at Rs 37.80, up by 0.25 points or 0.67% from its previous closing of Rs 37.55 on the BSE.

The scrip opened at Rs 38.25 and has touched a high and low of Rs 38.90 and Rs 37.80 respectively. So far 138874 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 145.50 on 12-Nov-2010 and a 52 week low of Rs 31.45 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs 41.25 and Rs 36.70 respectively. The current market cap of the company is Rs 1002.62 crore.

The promoters holding in the company stood at 11.01% while Institutions and Non-Institutions held 43.04% and 45.95% respectively.

IVRCL has bagged total work orders worth Rs 1,867.19 crore. The orders was bagged by the company’s mining and water divisions amounting Rs 1,176.12 crore and 691.07 crore respectively.

Under mining division, the company has received order from Hindustan Copper, a Government of India enterprise which issued a letter of intent to IVRCL Consortium for the work of development of an underground mine for 5 million tonne per annum capacity at Malanjkhand Copper Project, Balaghat, Madhya Pradesh, India. The completion period of the contract is five years. This is the single largest underground mining project which has ever come up in the country.

By bagging this order, together with other orders aggregating to over Rs 1,262 crore, IVRCL has made a major foray into the mining sector, particularly underground mining of non-ferrous metals. The mining operations of IVRCL have been spun off into a separate division.

Under water division, the company has received order for providing, supplying, lowering, laying, jointing and commissioning of bulk water transmission main 2150 mm diameter (FID) 14.0 mm thick M.S. Pipe line from Dudhrej PS to Navagam from Chainage 33.50 to 86.00 Km. including civil and electro mechanical work with 5 yrs O&M under ‘Swarnim Gujarat Saurastra - Kutch Water Grid’ programme awarded by Gujarat Water Infrastructure to IVRCL JV. The steel requirement for the above project is of the order of 91,914 tonnes.

IVRCL is engaged primarily in providing engineering, procurement, construction and commissioning services in major infrastructure segments including urban/rural water supply, irrigation and environment related projects, pipelines, power projects (substations and transmission and distribution lines), buildings and industrial structures, roads and bridges.