Petron Engineering advances after new order win

Petron Engineering Construction surged 4.68% to Rs 194.40 at 09:53 IST on BSE after the company received a letter of intent from The Ramco Cements for civil and mechanical works for a contract value of Rs 22.50 crore.

The new order win was announced after market hours yesterday, 14 December 2015.

Meanwhile, the S&P BSE Sensex was down 46.84 points or 0.19% at 25,103.36

On BSE, so far 5,796 shares were traded in the counter as against average daily volume of 997 shares in the past one quarter.

The stock hit a high of Rs 200.60 and a low of Rs 194 so far during the day. The stock had hit a 52-week high of Rs 313.80 on 23 April 2015. The stock had hit a 52-week low of Rs 142.35 on 9 February 2015.

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

Petron Engineering Construction received a letter of intent from The Ramco Cements for civil and mechanical works for capacity upgradation of line-1 cement plant and captive power plant at Jayanthipuram, Andhra Pradesh for a contract value of Rs 22.50 crore.

Petron Engineering Construction's net profit galloped 118.1% to Rs 1.02 crore on 10.8% growth in net sales to Rs 113.33 crore in Q2 September 2015 over Q2 September 2014.

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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