This small-cap construction stock is on investors' radar; shares hit record high on July 2

Shares of ITD Cementation, one of the leading engineering and construction companies, were on investors' radar on Tuesday, July 30, after the company announced on Monday that it had secured a contract for constructing a residential colony in New Delhi (Phase II) worth approximately ₹1,237 crore, including taxes and duties. 

In the opening deals, the stock hit a high of ₹539.90 on the NSE, up 5.88% against the previous close of 509.90.

"The company has also been informed that the process is currently at a preliminary stage and no definitive decision in this regard has been taken as yet. The company has no additional information to provide at this stage," it said in the exchange filing.

The company is part of a small-cap universe. Shares of the company have given multibagger returns in both the short and long term. The chart shows the stock has jumped 188% in the past 12 months and 608% in the past five years. In comparison, the benchmark Nifty50 has rallied 26% in 12 months and 126% over the past five years.

The stock hit an all-time high of ₹589.95 on the NSE on July 2, 2024.