BGR Energy soars after winning orders

BGR Energy Systems rose 17.16% to Rs 107.20 at 14:53 IST on BSE after the company said it won two orders worth Rs 431 crore from Nuclear Power Corporation of India.

The order was announced during trading hours today, 12 June 2018.

Meanwhile, the S&P BSE Sensex was up 216.46 points, or 0.61% to 35,699.93.

On the BSE, 4.08 lakh shares were traded in the counter so far compared with average daily volumes of 50,000 shares in the past two weeks. The stock had hit a high of Rs 108.45 and a low of Rs 92 so far during the day. The stock hit a 52-week high of Rs 162.25 on 19 June 2017. The stock hit a 52-week low of Rs 88.25 on 11 June 2018.

BGR Energy Systems announced that the electrical projects division of the company has secured two orders for an aggregate value of Rs 431 crore from Nuclear Power Corporation of India.

The first order is for design & detailed engineering, manufacture, procurement, supply, etc., of 400KV & 230KV switchyards and balance of plant (BoP) electrical areas for Kudankulam Nuclear Power projects - 3 & 4 for a total value of Rs 344.83 crore.

The second order is for loading/unloading, transportation & handling at site, storage, civil works, etc., of 400KV & 230KV switchyards and BoP electrical areas for Kudankulam Nuclear Power projects - 3 & 4 for a total value of Rs 86.21 crore. The contract completion period is 60 months.

Net profit of BGR Energy Systems rose 125.84% to Rs 32.95 crore on 6.18% rise in net sales to Rs 1175.16 crore in Q4 March 2018 over Q4 March 2017.

BGR Energy carries on the business in two segments, the supply of systems and equipment and turnkey engineering project contracting.

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