Power Mech Projects gains after new orders

Power Mech Projects rose 5.15% to Rs 763.05 at 15:23 IST on BSE after the company said it has received orders worth Rs 357 crore.

The announcement was made during market hours today, 29 November 2017.

Meanwhile, the S&P BSE Sensex was down 37.95 points or 0.11% at 33,580.64.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 5,095 shares in the past one quarter. The stock had hit a high of Rs 797 and a low of Rs 725 so far during the day. The stock had hit a record high of Rs 811 on 3 November 2017 and a record low of Rs 389.95 on 10 March 2017.

Power Mech Projects said it has received orders worth Rs 357 crore for infrastructure development work at Andhra Pradesh Medtech Zone Limited (AMTZ), an enterprise under the Government of Andhra Pradesh, for construction of ultra modern medical equipment manufacturing & testing facility under Make in India scheme at Visakhapatnam, Andhra Pradesh.

On a consolidated basis, Power Mech Projects' net profit rose 6.8% to Rs 17.02 crore on 6.3% growth in net sales to Rs 345.19 crore in Q2 September 2017 over Q2 September 2016.

Power Mech Projects is an engineering and construction company providing versatile and comprehensive service in power and infrastructure industries.

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