Engineers India ends at upper circuit on good results

The stock was locked at its 10% upper circuit at close. The counter witnessed trades of 6,628 shares on the BSE with buy orders of 16,139 shares pending at the counter.
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Updated at 1131 Hrs:

Engineers India has hit its 10% upper circuit after a tremendous rally in the net profit for fiscal year 2009.

The stock today opened at Rs 897 and then surged 10% to a high of Rs 959. The stock is now locked at the same upper circuit with 29,540 buy orders pending at the counter. Around 5,601 shares have been traded on the BSE so far.

According to a release issued by the company to the BSE, the company posted a audited consolitated income of Rs 1,552.86 crore for the year ended March 2009, as compared to Rs 753.60, in the corresponding year. There has been a 106% surge in the annual income.

The audited consolidated net profit for March 2009 surged nearly 77% to Rs 351.14 crore as compared to Rs 198 crore, in the previous year.