Aarvi Encon reacts positively on winning orders from Numaligarh Refinery Ltd

Aarvi Encon announced that it has bagged a work order of approx. Rs 23.58 crore from Numaligarh Refinery regarding empanelment of agencies for the job of hiring human resources for the site in India. The announcement was made on Tuesday post trading hours. 

To be precise, the company has won a contract of Rs 23,58,33,600 for qualified & experienced mechanical engineers, civil engineers, and electrical engineers in experience range of 3 to 10 years for the purpose of assisting in different project construction work for the site of Numaligarh Refinery Ltd (Numaligarh). The contract is observed to be for a period of 4 years and the work will be commenced from April 01, 2021. The services will be provided in accordance with the letter of acceptance.   

The said order is considered material in the opinion of key managerial personnel for determining the materiality of event or disclosures by SEBI. None of the promoters or promoter groups or group companies have an interest in Numaligarh Refinery Limited, which awarded the mentioned work order. This order also does not fall in the ambit of related party transactions. 

Aarvi Encon is an India-based company engaged in providing technical manpower outsourcing services. Range of industries from information technology, engineering, oil & gas to metro and mono railways are served by the company. 

Aarvi Encon’s share opened 0.44 per cent up on Wednesday at Rs 57.65 on BSE.