New orders boost McNally Bharat Engineering

McNally Bharat Engineering Company rose 1.12% to Rs 58.70 at 14:13 IST on BSE after the company said it has secured two orders aggregating Rs 14.16 crore.

The company announced the new orders during trading hours today, 6 January 2014.

Meanwhile, the S&P BSE Sensex was down 95.14 points or 0.46% at 20,756.19.

On BSE, so far 26,000 shares were traded in the counter as against average daily of volume of 31,248 shares in the past one quarter.

The stock hit a high of Rs 59.90 and a low of Rs 57.50 so far during the day. The stock hit a 52-week high of Rs 104.70 on 9 January 2013. The stock hit a 52-week low of Rs 37 on 7 August 2013.

The stock had outperformed the market over the past one month till 3 January 2014, advancing 0.61% compared with the Sensex's 0.02% fall. The scrip had, however, underperformed the market in past one quarter, declining 0.09% as against Sensex's 4.77% rise.

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

McNally Bharat Engineering Company said it has received an order worth Rs 9.06 crore for operation & maintenance of a coal handling plant. The company has secured another order valued at Rs 5.10 crore for replacement of cranes at a cargo jetty.

McNally Bharat Engineering Company's net profit fell 80.9% to Rs 1.63 crore on 7.5% decline in net sales to Rs 474.56 crore in Q2 September 2013 over Q2 September 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, cement, oil & gas, civic and industrial water supply, etc.

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