Petron Engg a bright star today

Petron Engineering announced yesterday after market hours that it has received Letter of Intent from  Ramco Cements for Civil and Mechanical works. This is for capacity upgradation of Line-1 Cement Plant and Captive Power Plant at Jayanthipuram. The order is valued at Rs.22.50 crore.

A construction and engineering company, Petron works in various sectors - refineries (reformers and crackers), oil & gas, power, cement, fertilizer & petrochemical.

The company had ended Q2FY16 on a pretty high note with net profit of Rs.1 crore v/s loss of Rs.6 crore in previous Q2. This rise was on a mere 11% rise at Rs.113 crore. Lowering of operating costs is what helped shore up the bottomline.

With a market cap of Rs.146 crore, this stock is amongst the brighter stars on the bourses – rallying over 8% intra day to Rs.201, with volumes jumping up over 5 times