McNally Bharat Engineering gains on bagging order from ESR Warehousing

28 Jan 2019

Mcnally Bharat Engineering Company is currently trading at Rs. 9.20, up by 0.40 points or 4.55% from its previous closing of Rs. 8.80 on the BSE.

The scrip opened at Rs. 8.80 and has touched a high and low of Rs. 9.20 and Rs. 8.51 respectively. So far 20952 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 67.95 on 23-Feb-2018 and a 52 week low of Rs. 8.47 on 08-Jan-2019.

Last one week high and low of the scrip stood at Rs. 10.33 and Rs. 8.80 respectively. The current market cap of the company is Rs. 153.22 crore.

The promoters holding in the company stood at 43.04%, while Institutions and Non-Institutions held 0.14% and 56.82% respectively.

McNally Bharat Engineering Company has received one order from ESR Warehousing relating to work of ‘filling, civil and infrastructure works’ located at Uluberia in Howrah worth Rs. 72.60 crore. This is an item rate contract and that the consideration amount actually payable to the company shall be arrived at on the basis of the actual quantity of work carried out by the company in accordance with the unit rate agreed between the parties and specified in the BOQ.

The said consideration amount is inclusive of all taxes and levies except the goods and service tax, which will be paid extra at the applicable rate. Execution of the Agreement shall terminate upon the completion of all works under the scope of services or earlier at the discretion of ESR Warehousing. The schedule for implementation of the works shall be ascertained and finalized between the parties upon mutual discussions and consultations.

McNally Bharat Engineering Company is a leading Engineering Company in India having constructed over 350 projects on EPC basis till date. It is active in providing turnkey solutions in Power, Steel, Material handling, Ports, Coal, Cement, Mineral Processing, Water and Infrastructure projects.

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