New order boosts McNally Bharat Engineering

McNally Bharat Engineering Company gained 3.3% to Rs 48.45 at 11:41 IST on BSE after the company said it has bagged an order worth Rs 309 crore.

The company announced the new order win during trading hours today, 26 August 2013.

Meanwhile, the BSE Sensex was up 52.62 points or 0.28% to 18,572.06

On BSE, 22,780 shares were traded in the counter compared with average volume of 15,676 shares in the past one quarter.

The stock hit a high of Rs 48.95 and a low of Rs 45.50 so far during the day. The stock hit a 52-week high of Rs 121 on 10 October 2012. It hit a 52-week low of Rs 37 on 7 August 2013.

The stock had outperformed the market over the past one month till 23 August 2013, falling 1.05% compared with the Sensex's 8.78% fall. The scrip, however, underperformed the market in past one quarter, falling 33.14% as against Sensex's 5.87% fall.

The small-cap company has an equity capital of Rs 31.09 crore. Face value per share is Rs 10.

McNally Bharat Engineering Company said the company has received an order for design, engineering, manufacturing, erection, commissioning and supply on turnkey basis for in-pit conveyor system for a value of Rs 309 crore.

McNally Bharat Engineering Company's net profit fell 52.1% to Rs 4.18 crore on 4.6% growth in net sales to Rs 442.68 crore in Q1 June 2013 over Q1 June 2012.

McNally Bharat Engineering Company is one of the leading engineering companies in India, engaged in providing turnkey solutions in the areas of power, steel, aluminium, material handling, mineral beneficiation, pyroprocessing, pneumatic handling of powdered materials including fly ash handling and high concentrate disposal, coal washing, port cranes, civic and industrial water supply.

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