Engineers India up nearly 4% after multiple deal wins

Engineers India

07/06/2023 05:35

** Shares of Engineers India  ENGI.NS  rise as much as 3.85%
to 114.50 rupees, hitting highest level since Nov. 7, 2019
    ** Stock on track for a third consecutive session of gain,
if trends hold
    ** Co on Tuesday said it was selected by National Aluminium
Company  NALU.NS  for providing consultancy services for
Pottangi Bauxite Mines, Odisha
    ** Added, Jindal Steel and Power  JNSP.NS  has signed
contract with co for supply of basic engineering and detail
engineering for direct reduced iron plant at Angul, Odisha
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** More than 3.8 mln shares change hands by 9:52 a.m. IST vs
30-day avg of 14.4 mln shares
    ** 5 of the 6 analysts covering the stock have a "buy" or
"strong buy" rating while 1 has "hold"; median PT is 118.50
rupees - Refinitiv data
    ** Stock up 39.8% YTD, as of last close


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))