Shares of ITD Cementation India Ltd skyrocketed 9% on 10 June after the corporate introduced acquiring a brand new order price about Rs 893 crore, inclusive of GST, for the constructing of berths and breakwater constructions associated to greenfield captive jetty improvement in Odisha.
The corporate revealed the order in a inventory change submitting on 9 June, describing the order as a part of its regular course of enterprise.
Not too long ago, ITD Cementation awarded a contract of Rs 593 crore for infrastructure works at Jaipur Worldwide Airport, including to the corporate’s burgeoning order e-book. The shares surged 12% after the announcement on 14 Might.
The infrastructure participant, which has been working in India for over 9 many years, introduced a robust March quarter.
12 months on 12 months, web revenue elevated by 27% to Rs 113.6 crore, whereas income elevated by roughly 10% to Rs 2,478.7 crore. Working revenue elevated by 19% to Rs 259.6 crore, whereas EBITDA margins improved to 10.5% from 9.8% within the earlier 12 months.
In January 2025, the Competitors Fee of India (CCI) permitted Adani Group’s subsidiary, Renew Exim DMCC, to amass a majority stake in ITD Cementation India for about Rs 5,757 crore.
“The proposed mixture entails the acquisition by Renew Exim DMCC (acquirer) of roughly 46.64%, equal to eight,01,13,180 shares, of the overall issued and voting fairness share capital of ITD Cementation India Ltd (goal),” the Competitors Fee of India (CCI) mentioned in a launch.
Renew Exim DMCC, a Dubai-based holding firm owned by the Adani Group, focuses on investments and administration of business enterprises and has no enterprise operations in India.
ITD Cementation India Ltd is an engineering and development agency engaged in heavy civil infrastructure and EPC (engineering, procurement, and development) tasks, with operations in India and overseas.
At 11:39 am, the shares of ITD Cementation had been buying and selling 7.22% larger at Rs 814 on NSE.
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