BGR Energy jumps 7 per cent on order win
The shares of capital equipment manufacturer, BGR Energy systems, traded higher by 7 per cent on receiving major orders in its electrical project division on Monday.
The company reported that it won two orders from Jharkhand Urja Sancharan Nigam Limited (JUSNL) and Nuclear Power Corporation Limited which had combined worth of Rs. 573.32 crore. JUSNL submitted order for installation, testing and commisioning of three 132/33 kV GIS substations in Sundarnagar, Sarath and Chattarpur on Turnkey basis. This order is worth Rs. 124.13 crore having time target of 24 months.
Nuclear Power Corporation has order worth Rs. 449.19 crore (including GST) for the Kudankulam Nuclear Power Plant 3 & 4 Project. This order will have scope of work in Supply, Testing, Delivery of Control & Instrumentation package of various systems , erection & commissioning of the plant here. The contract has a time target of 50 months.
The company's financial performance may get some boost after the recent orders. As of last reported quarterly (Q2) numbers the fiscal revenue dropped 21 per cent YoY and reported a net loss of Rs. 161.7 crore as against profit of Rs. 6.91 crore.
At 1.00 pm the stock was trading at Rs. 38.45, higher by 6.95 per cent on BSE.