McNally Bharat gains on Rs 108-cr construction orders

The order from Hooghly River Bridge Commissioners for construction of new school and PTTI buildings in West Bengal.

McNally Bharat Engineering Company is trading higher by 3% at Rs 117 on receiving construction order worth of Rs 108 crore from Hooghly River Bridge Commissioners.

“The company has received an order from Hooghly River Bridge Commissioners for construction of new school and PTTI buildings, hostels and quarters for school education sector under backward region grant fund in Bankura & Purulia for a value of Rs 107.53 crore,” McNally Bharat said in a filing. The contractual delivery period is within 18 months, it added.

The stock opened at Rs 116 and touched high of Rs 121 on the BSE. A combined 192,121 shares have changed hands on the counter so far on both the exchanges.