ITD Cementation’s stock price surged 20% on Thursday, hitting the upper circuit and reaching a new 52-week high of ₹644.40 per share on the BSE. The sharp rise in the stock price followed the company’s announcement that it had secured a significant new contract for the construction of a commercial building in Uttar Pradesh. The total value of the contract is ₹1,937 crore, including taxes and duties, as stated by the company in a BSE filing.
In their official statement, ITD Cementation India said, “The company has secured a contract for constructing a multistoried commercial building worth approximately ₹1,937 crore including taxes and duties in Uttar Pradesh.”
The surge in ITD Cementation shares was accompanied by a noticeable increase in trading volumes. Around 1 crore shares were traded on the BSE and NSE combined, which is significantly higher than the one-month average trading volume of 41 lakh equity shares.
The stock’s remarkable rally came on a day when the broader Indian stock market saw a sharp decline due to weak global cues. Both the Sensex and Nifty 50 indices fell by more than 1.5% as selling intensified across sectors.
ITD Cementation Share Price Outlook
ITD Cementation’s stock has been on a strong upward trajectory in recent weeks. In the past month alone, the stock has gained over 17%. The company has also delivered multibagger returns of nearly 126% year-to-date (YTD) and more than 187% in the past year, marking it as one of the standout performers in the small-cap segment.
Ruchit Jain, Lead Research Analyst at 5Paisa Capital, provided a positive outlook for the stock. “The trend in ITD Cementation shares appears positive, as the stock has formed a higher top, higher bottom structure on the price chart with heavy trading volumes. The buying interest driven by positive news flow suggests that the upward momentum in the stock is likely to continue,” said Jain.
Jain further noted that ITD Cementation shares have a strong support level at ₹520, and as long as the stock does not break below this level, the uptrend is expected to persist. “The stock price has the potential to test the ₹725 level in the near term,” he added.
At 1:15 PM on Thursday, ITD Cementation shares remained locked at the 20% upper circuit at ₹644.40 apiece on the BSE, giving the company a market capitalization of over ₹11,000 crore.
This impressive stock performance is a reflection of the company’s strong operational execution, new contract wins, and its continued expansion in the construction and infrastructure sectors. ITD Cementation’s ability to secure large contracts, such as the one announced in Uttar Pradesh, is further boosting investor confidence, suggesting that more upside potential could still be left for the stock.
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