Petron Engineering gains on new order win

Petron Engineering Construction gained 4.3% to Rs 43.70 at 13:23 IST on BSE after the company secured an order worth Rs 55 crore from Bharat Petroleum Corporation.

Meanwhile, the BSE Sensex was up 41.82 points, or 0.21% to 19,898.06

On BSE, 3,495 shares were traded in the counter as against average daily volume of 2,026 shares in the past one quarter.

The stock hit a high of Rs 45 and a low of Rs 43.30 so far during the day. The stock had hit a 52-week low of Rs 33.15 on 8 August 2013. The stock had hit a 52-week high of Rs 177.50 on 29 October 2012.

The small-cap stock had underperformed the market over the past one month till 25 September 2013, falling 0.71% compared with the Sensex's 7.22% gain. The scrip also underperformed the market in past one quarter, declining 34.27% as against Sensex's 6.59% rise.

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

Petron Engineering Construction received advice of contract from Bharat Petroleum Corporation, Ernakulam, Dist. Kerala for heater package for VGO-HDT unit for integrated refinery expansion project of its Kochi refinery for an approximate value of Rs 55 crore.

Petron Engineering Construction's net profit fell 86.9% to Rs 0.41 crore on 19.8% fall in net sales of Rs 107.33 crore in Q1 June 2013 over Q1 June 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.

Powered by Capital Market - Live News