Post bagging a large order, shares of this company surged despite market weakness; do you own it?

The PE multiple for EIL is 13.74, while the PE multiple for the sector is 25.3.

Today, shares of Engineers India Ltd were trading at Rs 84.40 apiece, up by 4.65 per cent. Additionally, the shares saw a spurt in volume by more than 2.2 times on BSE.  Recently, the company received an order from Mundra Solar Technology Ltd (a group company of Adani Enterprises Ltd).  

The project includes owner's engineer services for a polysilicon project of 30,000 MTPA and a monosilane project of 500 MTPA. Till now, India has been dependent on the import of Polysilicon and now this upcoming project would be a step towards achieving the vision of "Atmanirbhar Bharat". It would also help the country reach its net-zero energy target by 2070.  

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. The company also reported positive sets of results in its quarterly and annual consolidated financial statements. 

The PE multiple for EIL is 13.74, while the PE multiple for the sector is 25.3. The stock generated gains of more than 45 per cent in just six months. Investors should keep an eye on this stock.