Engineers India rises on order win from ONGC

Engineers India

13/06/2023 05:11

** Shares of Engineers India Ltd  ENGI.NS  rise as much as
3.4% to 113.70 rupees
    ** The state-run firm late on Monday said it received order
from Oil and Natural Gas Corporation Ltd  ONGC.NS  for about
4.72 bln rupees ($57.27 mln)
    ** Work order for replacement of gas compressors and
installation of vessel at Uran Plant, Maharashtra to be
completed in 40 months
    ** Stock trading above its 50-, 100-, and 200-day
exponential moving averages since April 19
    ** About 2.3 mln shares change hands by 9:36 a.m. IST, vs
30-day avg of 14.8 mln shares - Refinitiv Data
    ** Five out of 6 analysts covering the stock have a "buy" or
higher rating, while one has "hold"; median PT is 118.50 rupees
    ** Stock up ~40% YTD as of last close


($1 = 82.4200 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))