Wednesday, 27 September 2017

Petron Engineering Construction to Receive Order of Rs 280 crore

stock market tips

On Wednesday, it was analyzed by veteran technical analysts that the shares of Petron Engineering Construction locked at 5 percent upper circuit. The company is said to win orders from JSW Steel. The experienced analysts also informed that there were few pending buy orders of 20,115 shares. However, no sellers were available for these shares. Petron Engineering has obtained the purchase order from JSW Steel, under which it will be supplying fabrication, erection, and alignment of prefabricated steel structure for Blast Furnace and raw material handling system conveyor gallery & junction house at Dolvi, Raigad, Maharashtra, India for an approximate value of Rs 280 crore.

It is expected that the meeting of the company will be held on September 28, where the board of directors will be involved. They will be responsible for considering and approving the unaudited financial results of the company for this quarter. The company’s 41st AGM is fixed on 28 September of this year. The shares of Petron Engineering Construction were quoted at Rs 146.60. It was up by Rs 6.95, or 4.98 percent on the BSE at 09:24 hrs. The company’s share reached it is 52-week high Rs 217.15 and 52-week low Rs 119.50 on 03 May 2017 and 11 August 2017, respectively.

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