Engineers India rallies over 6% as govt considers merger of 6 firms with co
NEW DELHI: Shares of Engineers India advanced nearly 6 per cent intraday after reports that government is mulling the merger of about half a dozen state-owned consultancy firms like Engineering Projects (India) Ltd with Engineers India Ltd (EIL) to create a mega consultancy firm that can take on the might of global giants like Bechtel.
The scrip was trading 4.22 per cent up at Rs 156.95 around 2 pm. Shares of the company opened at Rs 150.60 and touched a high and low of Rs 159 and Rs 149, respectively, in trade so far.
On BSE, so far 12.04 crore shares were traded in the counter as against average daily volume of 2.46 lakh shares in the past two weeks.
The stock had touched its fresh 52-week high of Rs 169.90 on December 29, 2016 and fresh 52-week low of Rs 71.63 on February 17, 2016.
For the quarter ended September 30, 2016, the company reported 34.90 per cent year-on-year rise in net profit at Rs 93.75 crore against Rs 69.50 crore in the corresponding quarter last year. However, topline figures of the company slipped 24.80 per cent year-on-year to Rs 338.89 crore.
The scrip was trading 4.22 per cent up at Rs 156.95 around 2 pm. Shares of the company opened at Rs 150.60 and touched a high and low of Rs 159 and Rs 149, respectively, in trade so far.
On BSE, so far 12.04 crore shares were traded in the counter as against average daily volume of 2.46 lakh shares in the past two weeks.
The stock had touched its fresh 52-week high of Rs 169.90 on December 29, 2016 and fresh 52-week low of Rs 71.63 on February 17, 2016.
For the quarter ended September 30, 2016, the company reported 34.90 per cent year-on-year rise in net profit at Rs 93.75 crore against Rs 69.50 crore in the corresponding quarter last year. However, topline figures of the company slipped 24.80 per cent year-on-year to Rs 338.89 crore.
