Petron Engineering Construction surged 4.38% to Rs 112.05 at 10:52 IST on BSE after the company said it has received letter of award for a total contract value of Rs 54.70 crore plus service tax from UltraTech Cement.
The announcement was made after market hours on Monday, 10 March 2014.
Meanwhile, the S&P BSE Sensex was down 69.63 points or 0.32% at 21,865.20
On BSE, so far 1,891 shares were traded in the counter as against average daily volume of 1,396 shares in the past one quarter.
The stock hit a high of Rs 114.25 and a low of Rs 111.60 so far during the day. The stock had hit a 52-week high of Rs 118 on 2 May 2013. The stock had hit a 52-week low of Rs 33.15 on 8 August 2013.
The stock had outperformed the market over the past one month till 10 March 2013, rising 21.71% compared with the Sensex's 7.87% rise. The scrip also outperformed the market in past one quarter, gaining 44.19% as against Sensex's 3.2% rise.
The small-cap company has equity capital of Rs 7.54 crore. Face value per share is Rs 10.
Petron Engineering Construction said after market hours on Monday, 10 March 2014 that it has received letter of award for civil contract at Nagpur Cement Works at Nagpur in Maharashtra from UltraTech Cement (Unit: Nagpur Cement Works) for a total contract value of Rs 54.70 crore plus service tax.
Petron Engineering Construction's net profit fell 45% to Rs 0.33 crore on 26.8% decline in net sales to Rs 88.65 crore in Q3 December 2013 over Q3 December 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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