Generic Engineering Construction and Projects hits upper circuit; order win zooms the stock price

GECPL today announced an order win of Rs 180.38 crore after which the stock hit the upper circuit of 20 per cent

Generic Engineering Construction and Projects Ltd (GECPL) which is engaged in realty as well as EPC space, today secured an order amounting to Rs 180.38 crore and the investors were not late to react to the news. The stock which was trading flat at Rs 42.5 level, took a jump and hit an upper circuit of 20 per cent on the back of the news. 

There are three orders from different clients. One is of construction of a commercial complex at Mumbai amounting to Rs 152.27 crore. The second one is an industrial contract for the construction of a manufacturing facility of Rs 5.1 crore. The last one is the construction of a residential building worth Rs 23.01 crore. 

As of Q1FY22, the company has reported a strong order book of Rs 1,655.7 crore. Recently it has received an order of Rs 101.95 crore. With inflows of such orders, the company is looking strong to enter H2FY22. 

GECPL is engaged mainly in the construction of residential, commercial and industrial buildings and facilities. The stock has a 52-week high of Rs 68.15 and a 52-week low of Rs 36.1 on BSE.