Engineers India tumbles after weak Q2 outcome

Engineers India fell 6.69% to Rs 252.30 at 9:25 IST on BSE after net profit declined 47.44% to Rs 58.79 crore on 16.02% fall in net sales to Rs 390.64 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours on Friday, 7 November 2014.

Meanwhile, the BSE Sensex was up 120.09 points, or 0.43%, to 27,988.72.

On BSE, so far 55,000 shares were traded in the counter, compared with an average volume of 1.14 lakh shares in the past one quarter.

The stock hit a high of Rs 256.70 and a low of Rs 246.15 so far during the day. The stock hit a 52-week high of Rs 331 on 3 July 2014. The stock hit a 52-week low of Rs 142.10 on 4 February 2014.

The stock had outperformed the market over the past one month till 7 November 2014, rising 11.21% compared with 6.08% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.29% as against Sensex's 8.91% rise.

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

Engineers India (EIL) is one of the leading design and engineering organizations in South Asia. EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar & nuclear power and fertilizers.

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