Stocks

BGR Energy shares jump 5%

| Updated on: Nov 01, 2016

Shares of engineering and construction major BGR Energy Systems rose 5 per cent today after the company bagged a thermal power contract worth Rs 2,600 crore.

The stock jumped 4.58 per cent to end at Rs 123.20 on the BSE.

During the day, it gained 8.91 per cent to Rs 128.30.

On the NSE, shares of the company soared 5 per cent to close at Rs 123.45.

“The company has received a Letter of Intent from Tangedco (Tamil Nadu Generation and Distribution Corporation Ltd) ...for execution of balance of plant equipment/systems including civil works for 1 x 800MW — North Chennai Supercritical Thermal Power Project, Stage — III, in the premises of existing NCTPS at Ennore and Puzhudhivakkam Village, Ponneri Taluk, Tiruvallur District, Tamil Nadu on EPC basis,” BGR Energy Systems said in a BSE filing.

“The total lumpsum price of the contract is Rs 2,600.02 crore... The contract completion period is 36 months,” it added.

Published on January 15, 2018

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