Meanwhile, the BSE Sensex was up 38.18 points, or 0.23% to 16,789.91.
On BSE, 3.14 lakh shares were traded in the counter as against average daily volume of 8.83 lakh shares in the past one quarter.
The stock hit a high of Rs 46.95 and a low of Rs 45.70 so far during the day. The stock had hit a 52-week low of Rs 27.10 on 29 December 2011. The stock had hit a 52-week high of Rs 100.70 on 25 January 2011.
The stock had outperformed the market over the past one month till 23 January 2012, surging 57.47% as compared to the Sensex's return of 6.44%. The scrip had also outperformed the market in the past one quarter, rising 28.65% compared to the Sensex's fall of 0.2%.
The mid-cap construction company has an equity capital of Rs 53.40 crore. Face value per share is Rs 2.
The IVRCL stock gained 6.16% in two trading sessions from Rs 43.80 on Friday, 20 January 2012, after the company announced during trading hours on Monday, 23 January 2012 that the company's water/irrigation and buildings divisions secured orders aggregating Rs 701.49 crore.
IVRCL said that the company's water/irrigation division secured four contracts aggregating Rs 595.45 crore. Of these four contracts, two contracts were awarded by Tamil Nadu Water Supply and Drainage board. One of the contracts has been won by a joint venture of IVRCL. This contract is from Cauvery Neeravari Nigama Niyamitha, a government of Karnataka undertaking. The total completion period for this project is 18 months. The fourth contract is also won by a joint venture of the company. This order is from Bihar Urban Infrastructure Development Corporation.
IVRCL's buildings division secured total of three contracts aggregating Rs 106.04 crore. One of the projects was awarded by National Buildings Construction Corporation, Chennai. The second contract was awarded by Hindustan Dorr-Oliver, Mumbai. The third contract was awarded by government of India, Department of Atomic Energy, Directorate of Construction, Services and Estate Management, IVRCL said in a statement.
IVRCL's net profit fell 65% to Rs 8.14 crore on 0.4% decline in net sales to Rs 1046.03 crore in Q2 September 2011 over Q2 September 2010.
IVRCL is one of the leading players in engineering, procurement and construction (EPC) segment. The company has a strong presence in sectors such as water, transportation, building & industrial structures and power.