Shares of this small-cap engineering company gain more than 4 per cent in the morning trade; here's why

In the recent quarterly performance, the company posted brilliant results and strong growth in its profits.

On March 24, 2023, ISGEC Heavy Engineering Limited informed in the exchange filing that the Company has received an order for Rs 197.25 crore from Maharashtra State Power Generation Company Limited (MAHAGENCO) for renovation and modernisation of the electrostatic precipitators for their 2x500 MW TPP at Chandrapur Thermal Power Station, Distt. Chandrapur, Maharashtra.

The electrostatic precipitators shall be modernised for particulate emission reduction to meet the latest emission norms guidelines for thermal power plants. The scope of work includes complete Design, Engineering, Supply, Assembly, Erection, Commissioning and performance guarantee testing of Chandrapur U-5&6 Thermal Power Station on an EPC Basis.

ISGEC Heavy Engineering Ltd is a diversified heavy engineering company engaged in manufacturing and project business with an extensive global presence. It manufactures process plant equipment, presses, Iron & Steel castings & Boiler pressure parts.

In the recent quarterly performance, the company posted brilliant results and strong growth in its profits.

Today, the stock opened at Rs 452.05, with a high and low of Rs 460 and Rs 440.40. The stock previously closed at Rs 441.95. Currently, the stock is trading at Rs 454.95, up by 2.94 per cent.

It has a 52-week high of Rs 601.20 and a 52-week low of Rs 426.20. The company has a market capitalisation of Rs 3,337 crore.