Petron Engineering locked in upper circuit for third day on order win
The stock has locked in upper circuit for the third straight day, up 5% at Rs 147 on BSE
 "Petron Engineering locked in upper circuit for third day on order win")
premium
Petron Engineering Construction is locked in upper circuit for the third straight session, up 5% at Rs 147 on BSE, extending its past two days 9% gain, after the company said it has received purchased order worth of Rs 280 crore from JSW Steel.
“The order is for supply, fabrication, erection & alignment of prefabricated steel structure for blast furnace#2 and raw material handling system (RMHS) conveyor gallery & junction house at Dolvi, Dist. Raigad, Maharashtra, India,” Petron Engineering Construction said in a BSE filing on Tuesday.
The stock hit a 52-week high of Rs 217 on May 3, 2017, had underperformed the market since then. It fell 40% as compared to 7% rise in the S&P BSE Sensex till Friday, September 22, 2017.
Till 09:49 am, a combined 4,461 shares changed hands and there were pending buy orders for 72,263 shares on the BSE and NSE.
“The order is for supply, fabrication, erection & alignment of prefabricated steel structure for blast furnace#2 and raw material handling system (RMHS) conveyor gallery & junction house at Dolvi, Dist. Raigad, Maharashtra, India,” Petron Engineering Construction said in a BSE filing on Tuesday.
The stock hit a 52-week high of Rs 217 on May 3, 2017, had underperformed the market since then. It fell 40% as compared to 7% rise in the S&P BSE Sensex till Friday, September 22, 2017.
Till 09:49 am, a combined 4,461 shares changed hands and there were pending buy orders for 72,263 shares on the BSE and NSE.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%