ISGEC Heavy advances after emerging as lowest bidder

ISGEC Heavy Engineering advanced 3.76% to Rs 5,354.80 at 10:05 IST on BSE after the company announced that it has emerged as lowest bidder for thermal power project.

The announcement was made after market hours yesterday, 3 July 2018.

Meanwhile, the S&P BSE Sensex was down 15.75 points or 0.04% at 35,362.85

On BSE, so far 294 shares were traded in the counter as against average daily volume of 578 shares in the past two weeks. The stock hit a high of Rs 5,454 and low of Rs 5,300 so far during the day. The stock had hit a record high of Rs 8,400 on 15 January 2018. The stock had hit a 52-week low of Rs 4,991.10 on 28 June 2018.

The mid-cap company has equity capital of Rs 7.35 crore. Face value per share is Rs 10.

ISGEC Heavy Engineering announced that the company has emerged as lowest bidder (L-1) in reverse auction in order for Flue Gas Desulphurization (FGD) 3 units x 800 MW from NTPC - Kudgi Super Thermal Power Project. The value of the expected order is about Rs 700 crore.

ISGEC Heavy Engineering's net profit dropped 54.32% to Rs 26.62 crore on 12.39% fall in net sales to Rs 818.87 crore in Q4 March 2018 over Q4 March 2017.

ISGEC Heavy Engineering is engaged in the manufacturing of heavy engineering equipment.

Powered by Capital Market - Live News