IL&FS Engineering and Construction, an infrastructure development and project management company, has received a letter of award (LOA) worth Rs 1.90 billion from Madhyanchal Vidyut Vitran Nigam (MVVNL) for rural electrification works of Uttar Pradesh. The completion period is 24 months.
The company is currently executing rural electrification works in state of Uttar Pradesh for Paschimanchal Vidhyut Vitran Nigam (PVVNL) worth around Rs 3.89 billion. It is also working on rural electrification for Madhyanchal Vidyut Vitran Nigam (MVVNL) worth Rs 2.84 billion in the state of Uttar Pradesh.
Shares of the company gained Rs 3.6, or 6%, to settle at Rs 63.60. The total volume of shares traded was 38,674 at the BSE (Tuesday).