IL&FS Engineering and Construction Company, an infrastructure development company, climbed on Wednesday after it received a Letter of Intent (LoI) from Ireo for construction of its residential project 'Gurgoan Hills' located at Gurgoan, Haryana. The total value of the project is Rs 1.75 billion, which is to be completed in 39 months.

The scope of work includes construction of civil, internal finishes (common areas and hardscape), boundary wall, external development work for the project and management, coordination and supervision works for electrical low side, IT/ LV, plumbing, fire fighting, HVAC, basement ventilation, gas piping, water treatment plant, swimming pool, water vodies including basements underneath works and other associated works of the project.  

Shares of the company are trading at Rs 43.25, up Rs 1.65, or 3.97% at the Bombay Stock Exchange (BSE) on Wednesday at 11:42 a.m.

The scrip has touched an intra-day high of Rs 44.15 and low of Rs 43.05. The total volume of shares traded at the BSE is 8,147.

In the earlier session, the shares rose 4.52%, or Rs 1.8, at Rs 41.60. Currently, the stock is trading down 10.82% from its 52-week high of Rs 48.50 and above 122.94% over the 52-week low of Rs 19.40.