Petron Engineering surges on new orders win

Petron Engineering Construction jumped 6.68% to Rs 159 at 10:10 IST on BSE, after the company secured twin orders for work related to power plant and civil construction.

The company made the announcement after market hours yesterday, 18 December 2014.

Meanwhile, the S&P BSE Sensex was up 308.62 points or 1.14% at 27,435.19

On BSE, so far 260 shares were traded in the counter as against average daily volume of 2,576 shares in the past one quarter.

The stock hit a high of Rs 163.95 and a low of Rs 159 so far during the day. The stock had hit a 52-week high of Rs 189.30 on 6 June 2014. The stock had hit a 52-week low of Rs 73.05 on 20 December 2013.

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

Petron Engineering Construction said it has received letter of Intent from NCC, Madhapur, Hyderabad for additional Services of erection, testing & assistance for commissioning, trial operation and handing over of critical piping as per technical specification for 2x600 megawatts (MW) NCC power plant at Nellore, and from Shree Cement, Beawar, Rajasthan for civil construction work of packing plant extension and fly ash unloading system with handling conveyor belt at Bangur Cement, Aurangabad for a total contract value of Rs 24 crore (excluding service tax).

Petron Engineering Construction had reported net loss of Rs 5.64 crore in Q2 September 2014 as compared to net profit of Rs 0.21 crore in Q2 September 2013. Net sales rose 12.8% to Rs 102.29 crore in Q2 September 2014 over Q2 September 2013.

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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