Engineers India Secures ₹730 Crore International Orders; Stock Reacts
EIL Shares Surge 4.53% to ₹173.95, Settle at ₹167.70; Down 8.98% YTD
Engineers India Wins ₹730 Crore Overseas Orders; Stock Responds
Shares of EIL Rise 4.53% to ₹173.95, Close at ₹167.70; Down 8.98% YTD
Engineers India Ltd (EIL) has bagged two overseas orders together worth an estimated contract value of ₹730 crore. In a BSE filing, the PSU said it has received Middle East clients’ orders for Project Management Consultancy (PMC) Services and Engineering & Project Management Services Agreements. The orders are worth ₹650 crore and ₹80 crore, respectively.
After the announcement, shares of EIL surged 4.53% to a day’s high of ₹173.95. But the stock pared gains later and last traded 0.78% up at ₹167.70. On a YTD basis, the stock has lost 8.98%.
Market Performance & Technical Indicators
As of reporting, nearly 2.42 lakh shares exchanged hands on the BSE, down from the two-week average volume of 3.78 lakh shares. Turnover was at ₹4.11 crore, with the company having a market capitalization of ₹9,394.54 crore.
On the technical side, EIL stocks are quoting above their 5-day, 10-day, 20-day, 30-day, and 50-day simple moving averages (SMAs) but below the 100-day, 150-day, and 200-day SMAs. The 14-day relative strength index (RSI) of the stock is 55.17, reflecting neutral momentum as it is below the overbought level of 70.
The P/E ratio and price-to-book value stand at 30.02 and 3.95, respectively. The earnings per share (EPS) were at 5.57, while the return on equity (RoE) came in at 13.14%. EIL’s beta for one year is 1.9, which shows volatility, according to Trendlyne figures.
Government Holding & Outlook
As of December 2023, the Indian government held 51.32% of Engineers India Ltd, making it a state-owned engineering consultancy firm.
With these new foreign orders, market analysts will watch closely EIL’s future growth trajectory, profitability, and stock price performance amid ongoing market uncertainty.
