Multibagger Navratna Company Receives Order From ONGC, Stock Hits 52-Week-High

Midcap Navratna Construction Company, Engineers India Ltd. in an exchange filing has informed that the company has received an order worth Rs 837.34 Crore from Oil & Natural Gas Corporation Limited (ONGC), a Maharatna company. The Order is awarded to Engineers India for the Project for Revamping of SV Stations, Gas Terminal & Kribhco Terminal of ONGC, Hazira Plant.

"Oil and Natural Gas Corporation Limited (ONGC) has awarded the Project for Revamping of SV Stations, Gas Terminal & Kribhco Terminal of ONGC, Hazira Plant on EPC reimbursable [Open Book Estimate (OBE)] Basis to Engineers India Limited (EIL). The total estimated order value is about Rs 837.34 Crore with a project Completion schedule of about 45 months," the company said in an exchange filing.

The stock of Engineers India post the announcement of the order hit 52-week high on BSE at Rs 160.50 per share on Aug 02. while its 52-week low is Rs 62.35 per share. The stock is currently trading at Rs 145.95 per share, down 1.68% from its previous close.

Stock has fallen 1.88% in the past 1 week, and gained 12.62% in the past 2 weeks. It has gained 27.24% in the past 1 month, 53.68% in the past 3 months, and 83.12% in the past 6 months, respectively. It has delivered multibagger return of 110% in 1 year. While in 2 and 3 years, it has given 94.86% and 127.69% positive return. In 5 years, it gave 7.32% positive return in 5 years.