Petron Engineering hits roof after winning order

Petron Engineering Construction hit an upper circuit limit of 5% to Rs 146.60 at 9:31 IST on BSE after the company said it received order worth Rs 280 crore from JSW Steel.

The announcement was made after market hours yesterday, 26 September 2017.

Meanwhile, the S&P BSE Sensex was down 19.10 points, or 0.06% to 31,580.66.

On the BSE, 1,841 shares were traded in the counter so far, compared with average daily volumes of 1,207 shares in the past two weeks. The stock opened with an upward gap of 5% at Rs 146.60 and remained stuck at that level so far.

Petron Engineering Construction said that the order is for supply, fabrication, erection and alignment of prefabricated steel structure for blast furnace #2 and raw material handling system (RMHS) conveyor gallery and junction house at Raigad, Maharashtra, India.

Petron Engineering Construction reported net loss of Rs 8.83 crore in Q4 March 2017 compared with net profit of Rs 0.50 crore in Q4 March 2016. Net sales fell 21.38% to Rs 80.32 crore in Q4 March 2017 over Q4 March 2016.

Petron Engineering Construction is a heavy mechanical construction conglomerate providing turnkey solutions.

Powered by Capital Market - Live News