Engineers India on a high

Engineers India hit a new 52-wek high today at Rs.327.10 with volumes rising over 1 time. It’s one month graph shows that price has gone up 17% and over 20% since the bonus announced.

The market continues to rally on the bonus issue news which was announced on 16^th November. The company has declared a 1:1 bonus  and has fixed January 02, 2017 as the record date.

This PSU Navratna, for Q2FY17 had reported a 22% (YoY) rise in net profit at Rs.94 crore on 25% decline in total income at Rs.334 crore.