Engineers India gains after posting good Q1 results

Engineers India gained 4.83% to Rs 242.90 at 12:45 IST on BSE after net profit rose 50.06% to Rs 80.3 crore on 11.73% drop in total income to Rs 396.40 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 23 August 2016.

Meanwhile, the S&P BSE Sensex was down 9.85 points or 0.04% at 27,980.36.

More than usual volumes were witnessed on the counter. On BSE, 4.44 lakh shares were traded in the counter as against average daily volume of 1.05 lakhs shares in the past one quarter. The stock hit a high of Rs 245.20 and low of Rs 238.05 so far during the day. The stock had hit a 52-week high of Rs 252 on 1 January 2016. The stock had hit a 52-week low of Rs 143.25 on 17 February 2016. The stock had outperformed the market over the past one month till 23 August 2016, gaining 2.89% compared with 0.67% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.57% as against Sensex's 10.94% rise.

The mid-cap company has equity capital of Rs 168.47 crore. Face value per share is Rs 5.

State-run Engineers India provides engineering consultancy and EPC services, mainly to the oil and gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar and nuclear power and fertilizers to leverage its strong technical competencies and track record. The government of India holds 59.37% in Engineers India (as per shareholding pattern as on 30 June 2016).

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