Petron Engineering spurts after winning order

Petron Engineering Construction surged 14.29% to Rs 168 at 10:15 IST on BSE after the company said it has received work order from Guruashish Construction, HDIL Towers, Bandra-East, Mumbai.

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

Meanwhile, the S&P BSE Sensex was down 62.15 points, or 0.21%, to 30,071.20. The S&P BSE Small-Cap index was up 2.47 points, or 0.02%, to 15,285.13.

More than usual volumes were witnessed on the counter. On the BSE, 72,254 shares were traded in the counter so far, compared with an average volume of 4,104 shares in the past one quarter. The stock had hit a high of Rs 174.90 and a low of Rs 160.20 so far during the day. The stock had hit a 52-week high of Rs 220 on 6 May 2016. The stock had hit a 52-week low of Rs 122 on 21 November 2016.

The stock had outperformed the market over the past one month till 26 April 2017, rising 3.27% compared with the Sensex's 2.42% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 3.27% as against the Sensex's 8.75% rise.

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

Petron Engineering Construction has received work order from Guruashish Construction, HDIL Towers, Bandra-East, Mumbai, for building structure works at Goregaon-West, Mumbai for a total value of around Rs 110 crore.

Petron Engineering Construction reported net loss of Rs 1.83 crore in Q3 December 2016 as against net profit of Rs 1.70 crore in Q3 December 2015. Net sales fell 7.7% to Rs 94.60 crore in Q3 December 2016 over Q3 December 2015.

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