ITD Cementation stock hits all-time high after bagging a marine contract worth Rs 3,290 crore

ITD Cementation latest news: Shares of ITD Cementation India Limited jumped over 13 per cent to touch an all-time high of Rs 246.50 on the NSE in the early trade on Friday (September 1), a day after the company announced that it had secured a marine contract worth Rs 3,290 crore. Shares of ITD Cementation had closed at Rs 217.35 a day before. 

"This is to inform you that ITD Cementation India Limited has today secured a marine contract worth approximately Rs. 3,290 crores excluding GST," the Board said in a regulatory filing.

Earlier on Thursday, the scrip hit intraday highs and lows of Rs 218.20 and Rs 212.20.

Shares of ITD Cementation India Limited, one of the leading engineering and construction companies, have made investors wealthier by around 119 per cent in the last year. So far this year, the scrip has given a positive return of 91 per cent. 

The stock has jumped 30.29 per cent in 1 month and gave a multibagger return of 144.54% in the past 6 months.

Earlier in August, the company announced a dividend of Re 0.75 per equity share of face value of Re 1 each for the financial year ended March 31, 2023. Earlier to this, the company had announced a dividend of Re 0.45 in September 2022.

Meanwhile, the equity benchmark indices Sensex gained more than 140 points and Nifty rose 57 points in early trade on Friday. The majority of the stocks in both Sensex and Nifty were in the positive territory. In the Sensex pack, Tata Steel gained more than 3 per cent. 

Most of the Asian markets were in the green on Friday while European and US shares had closed in the red on Thursday.

On Thursday, Sensex declined 255.84 points to close at 64,831.41 points while Nifty dropped 93.65 points to settle at 19,253.80 points.