Engineers India shares rise on winning project worth Rs 448 crore

Engineering consultancy & EPC services provider, Engineers India Limited (EIL) announced on Wednesday after the market hours that it has bagged a contract with an order value worth Rs 488 crore. Reacting to this news, the share opened at 3.3 per cent higher on BSE on Thursday.

The contract is assigned by GAIL India Limited, which includes the execution of propane dehydrogenation (PDH) and polypropylene (PP) (PDH/PP) project at Usar, in the state of Maharashtra. The company will execute the project as an EPC project consultancy service for 500 kilotonnes per annum (KTA) PDH-PP Project. The project involves setting up of PDH and PP plant at Usar and pipeline from Usar to Uran along with storage facilities at Uran, which is scheduled to be completed within 48 months.

EIL has also diversified into sectors like infrastructure, water & waste management, solar and nuclear power as well as fertilisers by leveraging on its strong technical competencies.

At 10.40 am on Thursday, the share was trading at Rs 67.15 with gains of 1.67 per cent on BSE. The share has recorded a 52-week high value of Rs 123 and a 52-week low value of Rs 49.85 on BSE.