Engineers India gains on winning Rs 720-cr BPCL contract

The project involves enhancing the crude oil refining capacity from 9.5 million tonnes per annum to 15.5 mtpa

Defying a weak market trend, shares of Engineers India Ltd (EIL) today closed with over four% rise after the company bagged a Rs 720-crore contract from Bharat Petroleum Corp Ltd.

Shares of the state-run engineering consultancy firm closed at Rs 238.60, up 4.51% on the BSE. During the day, the stock surged 7.31% to Rs 245. On the NSE, the EIL counter settled at Rs 238.85, up 4.69%.

In terms of volume, 1.95 lakh shares changed hands on the BSE, while over 6 lakh shares were traded on the NSE.

"The project involves enhancing crude oil refining capacity of the Kochi refinery from the present level of 9.5 million tonnes per annum to 15.5 million tonnes," EIL had said in a statement to BSE after market hours on last Friday.

EIL will be providing consultancy services for project management, process design, detailed engineering, procurement, tendering, construction management & supervision, assistance in start-up and commissioning.

Meanwhile, in the broader market, the 30-share Sensex finished the day at 17,391.98, down 129.14 points.