Engineers India zooms on big contract

Engineers India is the next top gainer, after GMR. The stock which had closed yesterday at Rs.304.15, opened today at Rs.322, its intra day high. Since then it has come off this level though it remains strongly in the green at Rs.311.40, up 2.5%. Its 52-week high is at Rs.329.

The stock rose on unconfirmed reports that the company has won a $139 million contract from Nigerian company Dangote Group. The contract is for providing services for a refinery and polypropylene 20 million tonne plant. This is the largest ever single consultancy assignment for Engineers India.