Vijay Kedia-owned stock ends 10% higher after firm wins Rs 70-crore order

Shares of Innovators Facade Systems ended 10 per cent higher today after the company said it won orders worth over Rs 70 crore. Ace investor Vijay Kedia owned 2.01 million shares, amounting to 10.66 per cent stake, in the company at the end of December quarter.

Innovators Facade Systems stock rose 10% to Rs 66.80 against the previous close of Rs 60.75 on BSE. In comparison, the benchmark S&P BSE Sensex fell 145 points or 0.25% to 57,996.

The stock opened higher at Rs 61 against the previous close of Rs 60.75 on BSE.

Market cap of the firm rose to Rs 126.04 crore. The stock hit an intra day low of Rs 60 on BSE.

Total 0.64 lakh shares of the firm changed hands amounting to a turnover of Rs 41.63 lakh.

 "This is to inform you that the company has been awarded the work order of approximately Rs 70 (plus) crores for design, supply, fabrication and installation of Facade Work in Mumbai region from Lodha Group," the company said in an exchange filing.

Innovators Facade Systems is engaged in the business of designing, engineering, fabrication, supply, various and installation of facade systems. It provides a range of metal doors, which includes fire rated doors, clean room doors, and industrial doors.