BGR Energy Systems rose 6.20% to Rs 125.10 at 12:33 IST on BSE after the company said it won a Rs 2600 crore contract from TANGEDCO for North Chennai thermal power project.
The announcement was made during trading hours today, 1 November 2016.Meanwhile, the BSE Sensex was up 69.02 points, or 0.25%, to 27,999.23.
On BSE, so far 2.98 lakh shares were traded in the counter, compared with average daily volume of 43,256 shares in the past one quarter. The stock hit a high of Rs 128.30 and a low of Rs 117.80 so far during the day. The stock hit a 52-week high of Rs 138.80 on 6 January 2016. The stock hit a 52-week low of Rs 89.40 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 October 2016, rising 7.24% compared with 0.23% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3.84% as against Sensex's 0.26% decline.
The small-cap company has equity capital of Rs 72.16 crore. Face value per share is Rs 10.
BGR Energy Systems said it won the Balance of Plant (BOP) contract from Tamilnadu Generation and Distribution Corporation (TANGEDCO) for 1x800 megawatts (MW) North Chennai Thermal Power Project Stage III. BGR Energy secured this contract in an International competitive bidding which witnessed stiff competition. The value of the contract is Rs 2600 crore. The contract completion period is 36 months from the date of award.
The contract is for design, engineering, manufacturing, fabrication, assembly, inspection, testing, transportation, erection, testing and commissioning of the balance of plant mechanical, electrical and control & instrumentation works including associated civil works for establishment of coal based 1 x 800 MW North Chennai Supercritical Thermal Power Project Stage-III in the premises of existing NCTPS at Ennore & Puzhudhivakkam Village, Thiruvallur District, Tamil Nadu.
Including this order, BGR Energy carries over an order book of Rs 7429 crore.
Net profit of BGR Energy Systems declined 21.42% to Rs 8.66 crore on 6.48% decline in net sales to Rs 834.15 crore in Q1 June 2016 over Q1 June 2015.
BGR Energy Systems is a leading engineering, procurement and construction (EPC) and balance of plant (BOP) engineering and contracting company for power projects in India.
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