Petron Engineering surges on fresh orders from Madras Cements

The order worth of Rs 42 crore is for mechanical, electrical & instrumentation fabrication and erection works for the proposed cement grinding unit at Anakapalli Visakhapatnam

Petron Engineering Construction has surged 15% to Rs 152 in morning deals after the company said it has received an order worth of Rs 42 crore from Madras Cements.

“The order is for mechanical, electrical & instrumentation fabrication and erection works for the proposed cement grinding unit at Anakapalli Visakhapatnam,” Petron Engineering said in a statement.

The stock opened at Rs 135 and hit a high of Rs 153 on the NSE. A combined 67,482 shares have already changed hands on the counter so far against an average sub 25,000 shares that were traded daily in past two weeks on the NSE and BSE.