Engineers India Surges 4% on Back of New Orders from NALCO and JSPL

7 Jun 2023 , 11:18 AM

Engineers India witnessed a 4 % increase in its share price during early trade on June 7. This is followed by the announcement of new orders received from NALCO and JSPL.

National Aluminium Company Limited (NALCO) has chosen Engineers India (EIL) to provide consultancy services for updating a detailed project report (DPR) for the Pottangi Bauxite mines.

The objective of this project is to enhance raw-ore production. The contract is valued at Rs.5.05 crore and is expected to be completed within a period of 10 months.

Jindal Steel and Power Limited (JSPL) has signed a contract with Engineers India for the supply of basic engineering and detailed engineering services for a direct reduced iron plant in Angul, Orissa. The scope of the contract also covers associated facilities. The contract is valued at Rs.15.50 crore and is slated to be completed in 20 months.

At the time of writing, Engineers India’s stock was trading at Rs.112..45, showing an increase of 2.00% percent. The stock also reached a 52-week high of Rs.114.50.

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