Engineers India is currently trading at Rs 253.60, up by 3.00 points or 1.20% from its previous closing of Rs 250.60 on the BSE.
The scrip opened at Rs 256.95 and has touched a high and low of Rs 260.00 and Rs 253.00 respectively. So far 15785 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 366.80 on 14-Oct-2010 and a 52 week low of Rs 245.00 on 23-Sep-2011.
Last one week high and low of the scrip stood at Rs 270.00 and Rs 245.00 respectively. The current market cap of the company is Rs 8443.63 crore.
The promoters holding in the company stood at 80.40% while Institutions and Non-Institutions held 13.56% and 6.04% respectively.
Engineers India (EIL) is likely to get Navratna status from government, which will provide the company greater operational autonomy. The company’s application for the Navratna status has been accepted by the Department of Public Enterprises.
The criteria for granting the Navratna status is based on a composite score system. The PSUs are accorded scores on different performance parameters such as net profit, net worth and manpower cost to the total cost of production. The board of directors of the 'Navratna’ PSUs can take investment decisions up to Rs 1,000 crore without the approval from the government.
Engineers India is engaged in the business of providing engineering and related technical services for petroleum refineries and other industrial projects.
At present, there are 16 Navratna companies including Bharat Electronics, Bharat Heavy Electrical, GAIL and Rashtriya Ispat Nigam.
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