Engineers India rises 5% on order win from Adani group co

Engineers India

16/12/2022 04:51

** Shares of procurement and construction co Engineers India
Ltd  ENGI.NS  rise as much as 4.7% to 84.45 rupees, their
highest since Nov. 28
    ** Co says it got an order from Mundra Solar Technology, a
group co of Adani Enterprises Ltd  ADEL.NS  
    ** Stock continues to stay above its 50-day, 100-day and
200-day moving averages since Oct. 27; posts biggest intraday
pct gain since Nov. 28
    ** More than ~3.5 mln shares change hands by 9:54 a.m. IST,
0.6x 30-day avg of ~5.8 mln shares
    ** All 6 analysts covering the stock have a "buy" or "strong
buy" rating; median PT is 90 rupees - Refinitiv data
    ** Stock up 19.4% this year as of the current price,
stronger than 15.2% YTD rise as of last close
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))