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07-Sep2016

Engineers India gains on inking contract with IOCL to provide EPCM services

Engineers India is currently trading at Rs. 273.20, up by 4.05 points or 1.50% from its previous closing of Rs. 269.15 on the BSE.

The scrip opened at Rs. 275.00 and has touched a high and low of Rs. 275.10 and Rs. 272.00 respectively. So far 23,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 276.00 on 01-Sep-2016 and a 52 week low of Rs. 143.25 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 276.00 and Rs. 261.00 respectively. The current market cap of the company is Rs. 9,191.63 crore.

The promoters holding in the company stood at 59.37%, while Institutions and Non-Institutions held 27.54% and 13.09% respectively.

Engineers India (EIL) has signed a contract with Indian Oil Corporation (IOCL) - largest refiner of the country, for providing Engineering, Procurement and Construction Management (EPCM) services for implementing BS VI quality up-gradation program at its six refinery locations - Panipat, Mathura, Gujarat, Halida, Bongaigaon and Digboi Refinery.

The quality up-gradation projects are being undertaken in view of Government of India's target of implementing BS-VI norms across the country by April 1, 2020. EIL has recently conducted the configuration study for the facilities required at these refineries to make them BS VI compliant.

EIL shall render EPCM services and will provide Project Management, Process Design and Detailed engineering, Procurement & Expediting Services, Quality Assurance, Construction Management & Supervision and Assistance in Start-Up, Commissioning services to IOCL.



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