Engineers India is trading higher by 3% at Rs 245 after the state-owned company said that it has secured a project management consultancy contract from GSPL India Transco Limited (GITL), for Mallavaram-Bhopal- Bhilwara-Vijaipur Natural Gas Pipeline (MBBVPL) project.
“The project consists of about 2,000-km of natural gas pipeline, involving 1,650 km of trunk line plus 350 km of spur lines along with other facilities like dispatch and receipt terminals, telecom/SCADA network and metering facilities,” Engineers India said in a press release.
The pipeline will transport gas from Andhra offshore fields like those in Krishna Godavari basin to Bhilwara in Rajasthan, it added. However, the company has not disclosed the value of the contact.
The stock opened at Rs 240 and touched high of Rs 247 on the NSE. A combined 317,822 shares have changed hands on the counter so far.
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