Petron Engg gains after bagging a new order

Petron Engineering Construction rose 1.44% to Rs 219 at 14:48 IST on BSE after the company said it has received a letter of commitment from Fine Tech Corporation, the agents of Reliance Industries for a contract worth Rs 100 crore.

The new order was announced during market hours today, 19 February 2015.

Meanwhile, the S&P BSE Sensex was down 2.20 points or 0.01% at 29,322.46.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 1,360 shares in the past one quarter.

The stock hit a high of Rs 224 and a low of Rs 209.20 so far during the day. The stock had hit a 52-week high of Rs 229.90 on Wednesday, 18 February 2015. The stock had hit a 52-week low of Rs 80 on 18 February 2014.

Petron Engineering Construction said it has received 'Letter of Commitment' from Fine Tech Corporation, the agents of Reliance Industries for mechanical works of LLDPE and other allied works in J-3 Project at Reliance Industries, Jamnagar, Gujarat for a total value of Rs 100 crore.

Petron Engineering Construction's net profit galloped 4024.2% to Rs 13.61 crore on 43.8% growth in net sales to Rs 127.44 crore in Q3 December 2014 over Q3 December 2013.

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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