Petron Engineering surges on order worth Rs 75 crore

The order from JSW Cement is for civil and structural work at Salboni, West Bengal

Shares of Petron Engineering Construction surged nearly 5% at Rs 232 on the Bombay Stock Exchange after the company said it has won a construction order from JSW Cement Ltd.

The company in a release said that it has received a Letter of Intent from JSW Cement Ltd for civil and structural work for 2 x 1.2MTPA GGBS Grinding Unit at Salboni, West Bengal.

The total contract price for the civil and structural work is Rs 75 crore, the release added.

The stock opened at Rs 230 and touched a high of Rs 235. At 10:45am, over 45,000 shares were traded on both the stock exchanges.