Rs 9,079 crore order book: This multibagger civil construction company receives order worth Rs 837.34 crore from ONGC!
The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Sensex Index is up by 13 per cent.
Engineers India Ltd (BSE Script Code: 532178; NSE Script Code: ENGINERSIN) announced that it has received an order from Oil and Natural Gas Corporation Limited (ONGC) for the revamping of SV stations, Gas Terminal & Kribhco Terminal of ONGC, Hazira Plant on EPC reimbursable [Open Book Estimate (OBE)] Basis.
The project is worth Rs 837.34 crore and it will be completed in 45 months from LOI.
On Wednesday, shares of EIL plunged 4.56 per cent to Rs 148.55 per share with an intraday high of Rs 155.40 and an intraday low of Rs 143. The stock has a 52-week high of Rs 160.50 and a 52-week low of Rs 62.35.
Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company owned by the Government of India and managed by the Ministry of Petroleum and Natural Gas (MoPNG). EIL's primary focus is on engineering consultancy and EPC services for the oil and gas and petrochemical industries.
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The company's financial performance is strong. Its quarterly and annual consolidated financial statements showed positive results. As of March 31, 2023, the company has a large order book worth Rs 9,079 crore. The company is also nearly debt-free and consistently offers a healthy dividend payout of 71.60 per cent.
The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Sensex Index is up by 13 per cent. Investors should keep an eye on this civil construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.