Aarvi Encon spurts ~4% on bagging order worth Rs39.60 crore from CPCL

26 Apr 2022 , 09:23 AM

Aarvi Encon Limited informed that the company has received orders worth Rs39.60 crore from Chennai Petroleum Corporation Limited for providing Human Resources for the 9 MMTPA CBR Project and other Departments of Chennai Petroleum.

The project is for a period of 5 years from the date of acceptance i.e., April 25, 2022.

It includes Group A – For CBR Project (Home Office & Site Office)] / Group B, -For Manali Refinery and Group C – For Manali Refinery (Finance).
The Company has received a contract of Rs39.60 crore excluding GST for deploying Human Resources.

None of the promoter/promoter group companies have any interest in Chennai Petroleum Corporation Limited (CPCL) that awarded the aforesaid work order. The work order does not fall within related party transactions.

Aarvi’s stock was trading 4.37% higher at Rs116.95 against its previous close of 112.05 on NSE. It opened at Rs116.80 and touched a high of Rs117.05 so far.