Petron Engineering surges 9.6% in two days

Petron Engineering Construction surged 5.88% to Rs 45.95 at 12:29 IST on BSE, with the stock extending Thursday's 3.57% gains triggered by the company securing an order worth Rs 55 crore from BPCL.

Meanwhile, the BSE Sensex was down 118.39 points or 0.6% at 19,775.46.

On BSE, 2,728 shares were traded in the counter as against average daily volume of 2,080 shares in the past one quarter.

The stock hit a high of Rs 46.50 and a low of Rs 44.35 so far during the day. The stock had hit a 52-week high of Rs 177.50 on 29 October 2012. The stock had hit a 52-week low of Rs 33.15 on 8 August 2013.

The stock had underperformed the market over the past one month till 26 September 2013, gaining 4.33% compared with the Sensex's 7.2% rise. The scrip had also underperformed the market in past one quarter, declining 34.24% as against Sensex's 7.23% rise.

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

Shares of Petron Engineering Construction have surged 9.66% in two trading sessions from a recent low of Rs 41.90 on 25 September 2013, after the company during trading hours on Thursday, 26 September 2013 said it has secured an order worth Rs 55 crore from BPCL. The stock had risen 3.57% to settle at Rs 43.40 on Thursday, 26 September 2013.

Petron Engineering Construction's net profit fell 86.9% to Rs 0.41 crore on 19.8% decline 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.

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