Engineers India get 'Navratna' status; stock gains over 3%
The exercise of Navratna powers by the Board of Engineers India will be subject to guidelines and conditions laid down by Department of Public Enterprises.
By ET Online | Updated:
MUMBAI: Shares of Engineers India gained momentum in trade after the granted it Navratna Status. The grant will give the state-run engineering consultancy firm greater financial and operational autonomy.
The upgraded status will provide the company greater leeway in deciding on business propositions such as forming joint ventures or taking call on projects involving major investments.
The exercise of Navratna powers by the Board of Engineers India will be subject to guidelines and conditions laid down by Department of Public Enterprises.
EIL is one of India's leading companies in the engineering consultancy and EPC sector with a diverse portfolio of projects in oil and gas, petrochemicals, mining and metallurgy, fertiliser, power and infrastructure sectors.
At 10:00 a.m.; the stock was at Rs 313.10, up 3.35 per cent, on the BSE. It touched a high of Rs 318 and a low of Rs 311.10 in trade today.
The upgraded status will provide the company greater leeway in deciding on business propositions such as forming joint ventures or taking call on projects involving major investments.
The exercise of Navratna powers by the Board of Engineers India will be subject to guidelines and conditions laid down by Department of Public Enterprises.
EIL is one of India's leading companies in the engineering consultancy and EPC sector with a diverse portfolio of projects in oil and gas, petrochemicals, mining and metallurgy, fertiliser, power and infrastructure sectors.
At 10:00 a.m.; the stock was at Rs 313.10, up 3.35 per cent, on the BSE. It touched a high of Rs 318 and a low of Rs 311.10 in trade today.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
