IVRCL Infrastructure & Project Limited has informed that the company has bagged a lift irrigation project worth Rs 893 crore from the Government of Andhra Pradesh, Irrigation & CAD Department.

Under the deal, the company will execute PRANAHITHA-CHEVELLA Lift Irrigation Scheme – Link VII- Package No 20, which includes investigation, design and execution of lift irrigation scheme for drawal/lifting of 25 TMC of water from foreshore of SRSP Reservoir to Balancing Reservoir near Massam (V), Nizamabad Mandal and District by water Conveyor system with all associated components such as approach channel, Gravity lined canal, lifts, pressure main, CM & CD Works, distributory system and all other allied works.

The shares of IVRCL infrastructure have shown sharp recovery in its prices, after hitting its 52-week-low on 27th October at Rs 57. The scrip prices have surged over 150 per cent in just over two weeks.  

The counter finally settled the day at Rs 152 on NSE, up 10% compared to its previous close of Rs 139.

A leading technical analyst said, as the scrip has run too much in past days, so it is advisable that the interested traders can use option of Short-Selling in lieu of buy to make intraday gain, but only with strict stop loss.