Engineers India soars on securing order from Mundra Solar Technology

Engineers India is currently trading at Rs. 83.75, up by 3.10 points or 3.84% from its previous closing of Rs. 80.65 on the BSE.

Engineers Indias
Engineers Indias

The scrip opened at Rs. 79.75 and has touched a high and low of Rs. 84.40 and Rs. 79.75 respectively. So far 259154 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 86.45 on 28-Nov-2022 and a 52 week low of Rs. 55.95 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 84.40 and Rs. 78.85 respectively. The current market cap of the company is Rs. 4532.87 crore.

The promoters holding in the company stood at 51.32%, while Institutions and Non-Institutions held 20.66% and 28.03% respectively.

Engineers India (EIL) has secured an assignment for providing Owner’s Engineer Services for 30,000 MTPA Polysilicon and 500 MTPA Monosilane Project from Mundra Solar Technology (a group company of Adani Enterprises), in one of the niche sectors of Polysilicon production, which is the primary component for manufacturing Photovoltaic panels.

Conventionally, India has been dependent on import of Polysilicon and this would be a step towards realizing the vision of Atmanirbhar Bharat. This would also contribute towards nation’s target of Net Zero by 2070.

Engineers India is engaged in the business of providing engineering and related technical services for petroleum refineries and other industrial projects.

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