Engineers India is key beneficiary of refinery upgrades

The company has exceeded its FY17 order inflow target of Rs 3,500 crore

Ever since Engineers India Limited increased its order inflow target for FY17 from Rs 2,000 crore to Rs 3,500 crore in August 2016, the stock has been on an upward trend, gaining 36 per cent. Nearly three per cent of those gains came on Tuesday, on the back of a Rs 2,500-crore order from Hindustan Petroleum Corporation, which is upgrading its refinery facility in Visakhapatnam. This order win helps Engineers India Limited exceed its FY17 order inflow target. Another Rs 4,000–5,000 crore of project wins are awaited from refineries in Maharashtra. In fact, with its expertise in the oil and