Engineers India gains on entering into PMC contract worth $16.54 million in Bangladesh

26 Apr 2016 Evaluate

Engineers India is currently trading at Rs. 182.05, up by 1.55 points or 0.86% from its previous closing of Rs. 180.50 on the BSE.

The scrip opened at Rs. 183.00 and has touched a high and low of Rs. 183.65 and Rs. 182.00 respectively. So far 17,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 252.00 on 01-Jan-2016 and a 52 week low of Rs. 143.25 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 183.65 and Rs. 171.00 respectively. The current market cap of the company is Rs. 6,140.00 crore.

The promoters holding in the company stood at 59.37% while Institutions and Non-Institutions held 27.17% and 13.46% respectively.

Engineers India (EIL) has formally entered into a contract with Bangladesh Petroleum Corporation (BPC) to render Project Management Consultancy (PMC) for installation of ERL Unit-2 in Chittagong, Bangladesh for $16,545,000 plus BDT 82,281,025/- (inclusive of local taxes in Bangladesh such as AIT and VAT). This will be the largest ever single consultancy assignment for EIL in Bangladesh.

BPC will implement the Eastern Refinery Unit-2 project at a cost of $1.7 billion dollars (approximately 15,000 crore in Bangladesh Taka) over the next three years. ERL was set up at Patenga in 1968 and its installed refining capacity was 1.5 MMTPA, which after the implementation of this project would go to 4.5 MMTPA.

Engineers India is a total solutions consultancy company and EPC contractor in petroleum refining, petrochemicals, pipelines, oil and gas terminals and storages, fertilizers, mining & metallurgy and infrastructure projects. The company is also diversifying into water and waste management and has made inroads into nuclear, solar and thermal power sectors.


Engineers India Share Price

268.45 5.60 (2.13%)
18-May-2024 12:50 View Price Chart
Peers
Company Name CMP
Engineers India 268.45
Rites 714.60
Pitti Engineering 878.45
Kennametal India 2956.55
MTAR Technologies 2041.75
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