Engineers India secures Rs 730 crore international contracts

Engineers India Limited (EIL) has secured two international contracts valued at approximately Rs 730 crore. The agreements include project management and engineering services for clients in the Middle East. The contract values are Rs 650 crore for project management services and Rs 80 crore for engineering services. Following the announcement of these orders, EIL's stock rose by 4.53 percent, reaching a day high of Rs 173.95. It was last trading at Rs 167.70, which is still an 8.98 percent decline since the beginning of the year. During trading, about 2.42 lakh shares were exchanged, which is lower than the average volume of 3.78 lakh shares over the past two weeks. The total turnover was Rs 4.11 crore, and EIL has a market capitalization of Rs 9,394.54 crore. EIL’s stock is currently performing above its 5-day, 10-day, 20-day, 30-day, and 50-day moving averages, but below longer-term averages of 100, 150, and 200 days. The company's relative strength index (RSI) stands at 55.17, indicating it is neither oversold nor overbought. EIL has a price-to-equity ratio of 30.02 and a price-to-book value of 3.95. Its earnings per share (EPS) is recorded at 5.57, with a return on equity (RoE) of 13.14. The government owns 51.32 percent of the company as of December 2023.