Engineers India rose 4.51% to Rs 316.60 at 9:18 IST on BSE after the company said that the Government has decided to grant Navratna status to the company.
The announcement was made after market hours on Tuesday, 24 June 2014.
Meanwhile, the S&P BSE Sensex was up 25.44 points or 0.1% at 25,394.34.
On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 92,000 shares in the past two weeks.
The stock hit a high of Rs 318 and a low of Rs 311.10 so far during the day.
Engineers India said that the Government has decided to grant Navratna status to the company. The announcement was made after market hours on Tuesday, 24 June 2014. The Navratna status will give the state-run company's board of directors more financial and operational autonomy.
Engineers India's net profit fell 42.7% to Rs 103.55 crore on 3.6% decline in net sales to Rs 494.83 crore in Q4 March 2014 over Q4 March 2013.
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Engineers India (EIL) is one of the leading design and engineering organizations in South Asia. EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar & nuclear power and fertilizers.
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