ITD Cementation Surges To Record High After Rs 894-Crore Order Win

The shares of ITD Cementation India Ltd. rose over 9% on Tuesday to hit record high after the company won a contract in Odisha worth Rs 894 crore.

The project involves construction of the berth and breakwater for the development of greenfield captive jetties, according to a stock exchange filing on Monday.

In India, most of ITD Cementation's orders come from the Union government rather than the state governments. The company is executing two overseas orders, one each in Sri Lanka and Bangladesh. It is also looking for opportunities in the Middle East and other countries.

The company secured orders worth over Rs 7,100 crore in fiscal 2025 with maritime structures having a share of 34.6%.

ITD Cementation is eyeing a top-line growth of 25–30% in the current financial year and the company is also focusing on cost control and improving its margin, Chief Financial Officer Prasad Patwardhan said last month.

"A 25% to 30% growth in top line is definitely possible in FY26," he said during a conversation with NDTV Profit. "It is difficult to give guidance on order booking, but it will significantly improve this year."

The shares of ITD Cementation rose as much as 9.33% to Rs 830 apiece and hit a fresh life high since its listing in 1998. It pared gains to trade 8.90% higher at Rs 826.75 apiece, as of 9:19 a.m. This compares to a 0.10% advance in the NSE Nifty 50 Index.

It has risen 89.79% in the last 12 months and 49.60% year-to-date. Total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 61.42.

Two out of the three analysts tracking ITD Cementation have a 'buy' rating on the stock and one recommends a 'hold', according to Bloomberg data. The average of 12-month analyst price target implies a potential downside of 6.6%.