McNally Bharat Engineering extends rally after new order win

McNally Bharat Engineering Company gained 4.74% to Rs 71.85 at 09:28 IST on BSE, with the stock extending yesterday's rally triggered by announcing receipt of an order worth Rs 514 crore.

Meanwhile, the S&P Sensex was up 69.47 points or 0.22% at 31,328.32. The S&P Small-Cap index was up 13.67 points or 0.09% at 15,481.54.

On the BSE, 31,000 shares were traded on the counter so far as against the average daily volumes of 74,076 shares in the past one quarter. The stock had hit a high of Rs 72 and a low of Rs 71 so far during the day. The stock had hit a 52-week high of Rs 79.50 on 31 July 2017 and a 52-week low of Rs 37.60 on 30 May 2017.

The small-cap company has equity capital of Rs 57.39 crore. Face value per share is Rs 10.

Shares of McNally Bharat Engineering Company had gained 4.02% to settle at Rs 68.60 yesterday, 21 August 2017. The announcement of the new order win was made at fag end of the day's trading session yesterday, 21 August 2017.

McNally Bharat Engineering Company said that the company has received an order for work of Engineering, Procurement and Construction (EPC) of 8 MTPA capacity Coal Handling Plant (CHP) with allied infrastructural facilities and Operation & Maintenance (O&M) of the CHP for initial two years and Supervision & Handholding for one year at Manoharpur Coal Mine of Odisha Coal and Power (OCPL) in the district of Sundargarh, Odisha.

McNally Bharat Engineering Company reported net loss of Rs 101.89 crore in Q1 June 2017, lower than net loss of Rs 196.98 crore in Q1 June 2016. Net sales fell 3.06% to Rs 379.94 crore in Q1 June 2017 over Q1 June 2016.

McNally Bharat Engineering Company is a engineering company engaged in providing turnkey solutions in the areas of power, steel, aluminum, material handling, mineral beneficiation, pyroprocessing, pneumatic handling of powdered materials including fly ash handling and high concentrate disposal, coal washing, port cranes, cement, oil & gas, civic and industrial water supply etc.

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