Engineers India bags new contract from Mundra Solar Technology; stock zooms ~1%

16 Dec 2022 , 10:49 AM

Engineers India Limited has received an assignment from Mundra Solar Technology Limited (a group company of Adani Enterprises Ltd.) to provide owner’s engineer services for a 30,000 MTPA Polysilicon and 500 MTPA Monosilane Project.

The order is received in one of the niche sectors of polysilicon production, which is the primary component of photovoltaic panels.

Traditionally, India has relied on imports of polysilicon, and this would be a step toward realising Atmanirbhar Bharat’s vision. This would also contribute to the nation’s goal of reaching Net Zero by 2070, stated the company in its exchange filing.

Engineers India is a design engineering procurement construction and integrated project management firm primarily focused on the oil and gas and petrochemicals industries in India and internationally.

At around 10.53 AM, Engineers India was trading at Rs81.50 up by 1.05% from its previous closing of Rs80.65 on the BSE. The scrip opened at Rs79.75 and touched an intraday high and low of Rs84.40 and Rs79.75 respectively.

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