ITD Cementation India Ltd, one of the leading engineering procurement and construction (EPC) companies in heavy civil and urban infrastructure and the maritime sector, saw its shares surge nearly 15% to a record high on Friday after the company announced that it had secured a marine contract worth Rs 3,290 crores. 

ITD Cementation has been operating in India for over nine decades. It has established a presence and expertise in Maritime Structures, Airports, Hydroelectric Power, Tunnels, Dams and Irrigation, Highways, Bridges and Flyovers and Specialist Engineering.

At 12:45 p.m., shares of ITD Cementation were trading at Rs 237.50, 9.27% higher from its previous closing price on the National Stock Exchange (NSE). The scrip hit an all-time high of Rs 249.60 during Friday’s session, nearly 14.8% above its last closing price. 

ITD Cementation India informed the exchanges in a filing that it had secured a marine contract worth approximately ₹3,290 crore, excluding GST.

Earlier on August 9, the company’s joint venture (JV) with Transrail Lighting Ltd secured a contract for the design, supply, installation, testing, and commissioning of the Jamuna river crossing portion of the Bogura-Kaliakair 400 kV double circuit transmission line on a turnkey basis from Power Grid Company of Bangladesh Ltd worth US $205 million excluding taxes.

During the April to June 2023 quarter, the company secured 247 orders, with its consolidated order book at Rs 18,517 crore.

The company also announced a 75 paise dividend per share of face value Rs 1 each for the financial year 2023 on August 28.