Engineers India jumped 4.47% to Rs 70.10 after the company said that its board will consider a share buyback on Thursday, 12 November 2020.
At the same meeting, the company's board will also consider the financial results for the quarter ended on 30 September 2020.
On a consolidated basis, the company's net profit fell 60.6% to Rs 49.50 crore on 36% slide in revenue from operations to Rs 474.50 crore in Q1 FY21 over Q1 FY20.
Engineers India (EIL) provides design, engineering, procurement, construction, and integrated project management services primarily for oil and gas and petrochemical industries. The Government of India owned 51.50% stake in company as on 30 September 2020.
On a year-to-date (YTD), the stock has declined 29.06% while the benchmark S&P BSE Sensex rose 4.25% during the same period.
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