Apr 18, 2011, 03.17 PM | Source: Moneycontrol.com
McNally Bharat Engineering Company Ltd Monday said it has got a Rs 379-crore contract from Steel Authority of India for design, engineering, and supply of plant & equipment for the Bhilai plant.
The contract is expected to be completed over two years.
McNally's consolidated order book at the end of third-quarter of 2010-11 stood at Rs 4,370 crore, said Sageraj Bariya, a research analyst with Angel Broking.
"We believe that an improving economic scenario, continuous government focus on infrastructure spending and pick-up in private capex augurs well for the companies providing EPC solutions to the core sectors of the economy," he said.
Angel Broking has retained its ‘buy’ rating on McNally with target price of Rs 307.
At 11:20 hrs, McNally was trading at Rs 225.55, up 1.51% on the Bombay Stock Exchange.