New order boosts Petron Engineering

Petron Engineering Construction jumped 7.06% to Rs 91 at 14:36 IST on BSE after the firm said it has secured a contract worth Rs 99.76 crore from VISA Power, kolkata, for execution of civil job at VISA Raigarh thermal power plant, Chhattisgarh.

The new order was announced during trading hours today, 3 February 2014.

Meanwhile, the S&P BSE Sensex was down 219.95 points or 1.07% at 20,293.90.

On BSE, so far 2,517 shares were traded in the counter as against average daily volume of 1,662 shares in the past one quarter.

The stock hit a high of Rs 92 and a low of Rs 82.15 so far during the day. The stock had hit a 52-week high of Rs 118 on 2 May 2013. The stock had hit a 52-week low of Rs 33.15 on 8 August 2013.

The stock had underperformed the market over the past one month till 31 January 2014, sliding 7.26% compared with the Sensex's 3.1% fall. The scrip had, however, outperformed the market in past one quarter, jumping 32.71% as against Sensex's 3.07% fall.

The small-cap company has equity capital of Rs 7.54 crore. Face value per share is Rs 10.

Petron Engineering Construction's net profit fell 46.2% to Rs 0.21 crore on 35.6% decline in net sales to Rs 90.65 crore in Q2 September 2013 over Q2 September 2012.

Petron Engineering Construction executes projects in diversified sectors like refineries (reformers and crackers), oil & gas, power, cement, fertilizer & petrochemical including specialized insulation & refractory work, fabrication work along with electrical & instrumentation work.

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