Engineers India zooms ~3% on bagging order worth Rs 472 crore from ONGC

13 Jun 2023 , 12:23 PM

Engineers India’s stock was trading about 3% higher in today’s trade following the company’s announcement of receiving new order from ONGC.

At around 12.10 PM, Engineers India was trading 1.23% higher at Rs 111.35, against the previous close of Rs 110 on NSE. The counter hit an intraday high of Rs 113.70 today.

Engineers India has been awarded the project for the replacement of three CSU off-gas compressors and six regeneration gas compressors, as well as the installation of a CBD vessel at the Uran Plant, on an EPC reimbursable basis (Open Book Estimate (OBE) mode).

The order value is estimated at approximately Rs 472 crore and is expected to be completed within a period of 40 months.

Engineers India Ltd (EIL) is a prominent multinational engineering consultancy and EPC (Engineering, Procurement, and Construction) firm. It was founded in 1965 and specializes in delivering engineering consultancy and EPC services primarily targeted toward the oil & gas and petrochemical sectors.

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