Stock Report

EIL and CSIR-CSIO ink agreement for joint commercialization of Earthquake Warning System

Posted On : 2022-07-01 19:47:23( TIMEZONE : IST )

Engineers India Limited (EIL), New Delhi & CSIR-CSIO, Chandigarh, signed an agreement for joint commercialization of Earthquake Warning System.

Engineers India Limited (a Navratna PSE under Ministry of Petroleum and Natural Gas) is engaged by CSIR-CSIO as the technology commercialization partner for next five years on 30.06.2022.

The MoA cum Transfer of Technology (ToT) Agreement was signed on 30th June 2022 in the presence of Ms. Vartika Shukla, C&MD, EIL and Prof. S. Anantha Ramakrishna, Director, CSIR-CSIO.

Under this agreement, CSIR-CSIO and EIL will jointly commercialize the technology of "Earthquake Warning System" (Technology "EqWS" developed by CSIR-CSIO is in operation for Delhi Metro Rail Corporation since August 2015). This agreement will not only help save lives in future but also help both the organizations to increase the scope of application areas e.g. critical infrastructures/installations where this technology can be put to use.

EIL is a premier engineering consultancy company having experience in scale-up of lab/bench scale level processes to demonstration/commercial-scale processes and preparation of basic design & engineering packages for various process technologies.

CSIR-CSIO is a premier research & development organization dedicated to research, design and development of scientific and industrial instruments to stimulate growth of Instrument and automation Industry in India covering wide range and applications.

CSIR-CSIO high end research and development amalgamated with EIL's rich experience in Mega Project Execution will ensure that the commercialization of Earthquake Warning System shall be successfully implemented.

Shares of Engineers India Limited was last trading in BSE at Rs. 58.80 as compared to the previous close of Rs. 57.00. The total number of shares traded during the day was 142817 in over 1873 trades.

The stock hit an intraday high of Rs. 58.90 and intraday low of 56.55. The net turnover during the day was Rs. 8263396.00.