Petron ascends on Nigerian order

Dalal Street Spikes

 The shares, which hit their upper circuit, touched and ended at their 52-week high of Rs 58.50. More than 1.06 lakh shares were traded on the BSE. The stock has moved up in the recent past on good buying interest on the back of new orders.

 The company today announced that it has signed a contract on November 15, 2003, with Dangote Industries Ltd, Nigeria, for erection of a grassroots cement plant, comprising mechanical, structural, electrical, instrumentation work, for Obajana Cement Plc at Obajana, Nigeria, for a total value of 26 million (Rs 135 crore).