IVRCL Infrastructures recovers on large order win

IVRCL Infrastructures recovers on large order win

IVRCL Infrastructures & Projects was down 0.08% to Rs 457.10 at 13:21 IST on BSE, having recovered form the sessions low of Rs 445.05, after the company said it has bagged orders worth Rs 517.89 crore.

The company made this announcement during market hours today, 20 February 2008.

Meanwhile, BSE Sensex was down 392.05 points or 2.17% to 17,683.61, on weak cues from the global markets.

On BSE, 30,432 shares were traded in the counter. The scrip had an average daily volume of 1.45 lakh shares in the past one quarter.

The stock hit a high of Rs 459.85 so far during the day. The stock had a 52-week high of Rs 575 on 7 January 2008 and a 52-week low of Rs 241.15 on 3 April 2007.

The mid-cap scrip had underperformed the market over the past one month till 19 February 2008, gaining 2.23% compared to the Sensex’s return of 2.67%. It had outperformed the market in the past one quarter, declining 2.19% compared to Sensex’s decline of 2.83%.

The company’s current equity is Rs 26.64 crore. Face value per share is Rs 2.

The current price of Rs 457.10 discounts its Q3 December 2007 annualized EPS of Rs 19.35, by a PE multiple of 23.62.

In November 2007, IVRCL Infrastructures received orders worth Rs 329.32 crore.

In October 2007, the company secured lift irrigation contract worth Rs 761.24 crore from Irrigation & CAD Department, government of Andhra Pradesh.

IVRCL Infrastructures & Projects’ net profit rose 102.5% to Rs 64.06 crore on 84.7% growth in net sales to Rs 985.55 crore in Q3 December 2007 over Q3 December 2006.

IVRCL Infrastructures & Projects undertakes contracts to execute civil engineering works.