New order boosts McNally Bharat Engineering

McNally Bharat Engineering Company surged 4.51% to Rs 55.60 at 11:35 IST on BSE after the company said it has received an order worth Rs 144.32 crore for an integrated refinery expansion project.

The company announced the new order during trading hours today, 13 September 2013.

Meanwhile, the S&P BSE Sensex was down 35.4 points or 0.18% at 19,746.44.

On BSE, 35,000 shares were traded in the counter as against average daily volume of 16,116 shares in the past one quarter.

The stock hit a high of Rs 56.45 and a low of Rs 53.25 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 12 September 2013, surging 19.55 % compared with the Sensex's 4.41% rise. The scrip had, however, underperformed the market in past one quarter, advancing 1.24% as against Sensex's 3.89% rise.

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

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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