Engineers India gains on strategic alliance with Chempolis

Engineers India (EIL) rose 2.30% to Rs 73.35 after the company and Chempolis Oy, Finland announced the signing of a strategic alliance for conversion of biomass to green fuels.

November 26, 2021 9:31 IST | capital market

In the changing global energy landscape, biomass-based fuels are promising alternative for supplementing fossil fuels towards a sustainable energy future. In addition to this, biomass can be utilized to produce value added products such as phenolic resins that has the potential to substitute a lot of products obtained from fossil fuels.

The Government of India has also set a target to achieve 20% blending of ethanol in gasoline by the year 2025.

Many biomass-based product facilities are expected to be installed in the coming years in India and across the world to fulfill the demand of green products.

As both the organizations operate in the Indian subcontinent market and have complementary products and/ or services, this association will add value in presenting the synergized and regulatory compliant products and services to end customers in Indian subcontinent.

This agreement shall pave the way to pursue business development in the sunshine area of renewables i.e. Cellulosic 2G Ethanol Technology.

Engineers India provides design, engineering, procurement, construction, and integrated project management services primarily for oil and gas and petrochemical industries. The Government of India owned 51.32% stake in company as on 30 June 2021.

The companys consolidated net profit declined 80.71% to Rs 17.04 crore on a 5.13% fall in sales to Rs 656.78 crore in Q2 FY22 over Q2 FY21.

Powered by Capital Market - Live News

OPEN A DEMAT ACCOUNT & Get FREE Benefits worth 10,000

FREE Benefits worth 10,000



The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction



Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity