Petron Engineering receives LoI from JBF Petrochemicals Limited

Petron Engineering Construction Ltd has received Letter of Intent dated February 19, 2014 from JBF Petrochemicals Limited, Mangalore for Composite works comprising Civil, Structural, Underground Piping, Buildings, Mechanical Piping, Insulation, Painting, Electrical & Instrumentation works for its JBF PTA OSBL Project at Mangalore for an approx. Contract Value of Rs. 196.00 Crores (Rupees One Hundred Ninety-six Crores Only), plus Service Tax.

Shares of PETRON ENGINEERING CONSTRUCTION LTD. was last trading in BSE at Rs.83.3 as compared to the previous close of Rs. 84. The total number of shares traded during the day was 132 in over 38 trades.

The stock hit an intraday high of Rs. 88 and intraday low of 83.3. The net turnover during the day was Rs. 11119.

Source : Equity Bulls

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