Shares of this construction company rallied nearly 15% in the first half after winning a Marine Contract. The stock saw a strong momentum in the market today.
Shares of ITD Cementation India opened at Rs. 228 levels and traded 14.8% higher to reach its 52- week high of Rs. 249.60. The stock has given a multibagger return of 118.77% in just the last six months. Over the last three years, the stock has returned a total of 307.02%.
On 31 August 2023, the company filed a press release regarding its latest marine contract worth Rs. 3290 crore excluding GST.
The company currently holds a market capitalization of Rs. 3736.38 Crore. After comparing on a QoQ basis, the revenue for Q1FY24 can be noted with an increase of 66.93% to Rs. 1832.57 from Rs. 1631.41 crore in Q4FY23. The net profit rose 73.69% to Rs. 52.21 crore in Q1FY24 from Rs. 37.79 crore in Q4FY23. The company maintains a low debt to equity ratio of 0.59. Its price to earnings ratio is at 25.55 against industry average price to earnings ratio of 31.96.
ITD Cementation Limited, incorporated in the year of 1931 is into construction and engineering solutions. It is one of the leading companies which works on business operations such as Infrastructure, civil construction, EPC business, constructing airports, electric power plants, tunnels, highways, dams, and many more.
Written by Bhumika Khandelwal
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