PSU Stock, EIL secures Project Management Consultancy contract from HPCL
The project cost is approximately Rs. 222 crore, with a completion schedule of about 36 months.
PSU Stock, EIL secures Project Management Consultancy contract from HPCL
State-run Engineers India Limited (EIL) has announced that Hindustan Petroleum Corporation Limited (HPCL) has awarded them a Project Management Consultant (PMC) contract for the Lube Modernization and Bottoms Upgradation (LMBU) project at HPCL’s Mumbai facility.
The project cost is approximately Rs. 222 crore, with a completion schedule of about 36 months. This contract is a domestic project and will significantly enhance the company’s portfolio, reinforcing its expertise in large-scale project management within the energy sector.
The PSU Engineering Firm is a small-cap stock engaged in providing engineering consultancy, project management, and EPC services primarily in the oil and gas, petrochemical, infrastructure, power, and fertilizer sectors.
The stock has jumped 4.9% after securing an order worth Rs. 222 crore from Hindustan Petroleum Corporation Limited (HPCL) for the Lube Modernization and Bottoms Upgradation (LMBU) project.
Engineers India Limited, with a market capitalization of Rs. 9,976.25 crores, reached an intraday high of Rs. 179.85 per equity share, reflecting a rise of approximately 4.9% from the previous day's closing price of Rs. 171.30. However, the stock has since retreated and is currently trading at Rs. 177.60 per equity share.