Engineers India clarifies on news regarding new contract

With reference to the news item appearing in a leading financial daily titled "EIL wins $ 5-b Abu Dhabi petrochem contract", Engineers India Ltd (EIL) has clarified to BSE that the Company confirms that it has been issued a Letter of Intent on August 13, 2007 by Abu Dhabi Polymers Company, Abu Dhabi, to manage the construction of Petrochemical Complex in Abu Dhabi. The order value for EIL is of the order of US $ 27 Million. EIL has got this order against a very tough international competition.

The stock closed the day at Rs.462.30, up by Rs.4.45 or 0.97%. The total traded quantity was 10065 compared to 2 week average of 4204. The stock hit an intraday high of Rs.480 and low of Rs.460.

Source : Equity Bulls

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