IVRCL Infrastructures & Projects Ltd, the flagship company of Hyderabad-based IVRCL Group, has bagged an order worth Rs 714.90 crore from Irrigation and CAD Department, Government of Andhra Pradesh.

The company has been awarded Pranahitha-Chevella Lift Irrigation Project - Package No.9 work in Karimnagar District, Andhra Pradesh.

The scope of work involves Investigation, Designs and execution of Lift Irrigation Scheme for drawal and lifting of 6.00 TMC of water in 120 days from Mid Manair Reservoir to Upper Manair Reservoir in Karimnagar District by water conveyor system on EPC Turnkey Basis.
Recently, IVRCL infrastructure had bagged five orders worth over Rs 351 crore for construction related works.

Emkay Research has maintained buy rating on IVRCL infrastructure with price target of Rs 473, in its report dated 1st August, 2008.

According to stock research, the counter looks good on the charts in the long-term, but short and medium-term picture is not impressive. Long term investors can hold with a stoploss of Rs 300-310.