BGR Energy soars 11.5% on dispute settlement pact with Hitachi

Shares of engineering firm BGR Energy Systems closed with sharp gains of 11 per cent today after the company executed an agreement with two Hitachi firms settling disputes with them.
The stock zoomed 11.15 per cent to settle at Rs 117.60 on BSE. During the day, it jumped 18 per cent to Rs 124.90.
At NSE, it surged 11.46 per cent to close at Rs 118.15.
On the volume front, 8 lakh shares of the company changed hands at BSE and over 36 lakh shares were traded at NSE during the day.
According to a statement by BGR Energy, it entered into an agreement with Hitachi Ltd, Japan (HTC) and Hitachi Power Europe GmbH, Germany (HPE) on March 30, 2016 at Tokyo.

"The agreement provides for certain payments to be made by HTC to the company in a phased manner over a period of time on achievement of number of milestones/events/transactions so as to realise the objectives mentioned herein above," BGR Energy Systems Ltd informed BSE today.