Petron Engineering jumps up over 11%

Petron Engineering Construction clocks volume of less than 2500 shares on a two-week average. And today since opening bell, already some 17,000 shares have changed hands. The stock price has surged over 11% to Rs.154 levels; it has come off from there and is now hovering at Rs.146 levels, up some 5.5%.

The company announced yesterday after market closure that it has received a letter of intent from Shree Cement for civil works at its grinding project in Orissa. The value of the contract is Rs.33 crore.

This new order comes on the back of an earlier order it had received in September from Shree Cement for civil works at its plants in Aurangabad, Bihar and Gulbarga. This order was worth Rs.50 crore.