IL&FS Engg wins Rs. 216 crore GAIL order

Share prices of IL&FS Engineering and Construction was locked at 5 per cent upper circuit as it has received an order for pipeline laying works from GAIL. There were 25,154 pending orders of shares with no sellers available.
 
The company has received Fax of Acceptance (FOA) from Gas Authority of India (GAIL India). The total value of the contract is Rs. 215.79 crore and is to be mechanically completed in 15 months from the date of FOA an additional two months for pre-commissioning and commissioning.
 
Recently, the company also won a pipeline laying contract from GAIL worth Rs. 123.05 crore in Kerala / Karnataka. The company is already executing pipeline projects for GAIL worth Rs. 335.71 crore in Kerala and Bihar states. 
 
At 10:43 hours, IL&FS Engineering and Construction Company was quoting Rs. 53.65 per share, up Rs. 2.55, or 4.99 per cent on the BSE. The stock has gained 42 per cent in the last 3 months.