McNally Bharat shares hits upper circuit on orders worth Rs 601 crore from South Eastern Coalfields

The company in an exchange filing said that its lead partner of joint venture received an order of Rs 173.46 crore from South Eastern Coalfields and also orders worth Rs 216.53 crore and Rs 211.22 crore.

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McNally Bharat Engineering share price jumped over 4 percent in the morning session on January 20 after the company received three orders from South Eastern Coalfields.

The company in an exchange filing said that its lead partner of joint venture received an order of Rs 173.46 crore from South Eastern Coalfields for planning design, engineering, construction, fabrication, erection, supply, installation, testing, trial run and commissioning of One Number RCC Silo of 3000 te capacity with rapid loading system among others.

The company also received orders worth Rs 216.53 crore and Rs 211.22 crore.

The stock was trading at Rs 5.78, up Rs 0.27, or 4.90 percent at 09:46 hours. It has touched an intraday high of Rs 5.78 and an intraday low of Rs 5.78. There were pending buy orders of 63,630 shares, with no sellers available.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. The company has witnessed increasing profits every quarter for the past 2 quarters.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

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