IL&FS Engineering Locked At 5% Upper Circuit On Rs 216 Crore Order From GAIL

Shares of IL&FS Engineering and Construction has locked at 5 percent upper circuit on Monday as it has received order for pipeline laying works from GAIL.

There were pending buy orders of 25,154 shares, with no sellers available.

The company has received Fax of Acceptance from Gas Authority of India for 157.8 km long 30' diameter pipeline laying works for Dobhi-Durgapur-Haldia Pipeline Section along with 13.28 km long 12' diameter spurline under Jagdishpur Haldia/Bokaro-Dhamra Natural Gas pipeline project in Jharkhand/West Bengal states, as per company release.

The total value of the contract is Rs 215.79 crore (excluding GST) and is to be mechanically completed in 15 months from date of FOA and additional 2 month for pre-commissioning and commissioning.

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