Engineers India Ltd
Engineers India Limited(EIL), established in 1965, is a leading global engineering consultancy and Engineering, Procurement and Construction (EPC) company. Today, EIL is a ‘Total Solutions’ engineering consultancy company. EIL is providing design, engineering, procurement, construction and integrated project management services from ‘Concept to Commissioning’ with highest quality and safety standards.
EIL has an impressive record of executing over 5000 assignments consisting of 400 major projects valued over US$200 Billion.
Engineers India Next Bechtel?
On 8th Feb 2017, there was news that Government is mulling the merger of about half a dozen state-owned consultancy firms like Engineering Projects (India) Ltd with Engineers India Ltd (EIL) to create a mega consultancy firm that can take on the might of global giants like Bechtel. Reacting to this news, the stock price rose up sharply.
Govt initiatives towards PSUs are monitored closely by smart money. As a result, the stock has already given more than 100% returns in last 6 months.
As a momentum play, some steam appears to be present to support further up-move in the stock price. If your investment horizon is short-term, Rs.143 is a support area. Can be safe stop-loss level to decide your position sizing.
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——————————————————————————————————————————-Note: Information presented in the above article is available in public domain and it should not be treated as “Research Report”
Registration Status: I am not a SEBI registered Research Analyst.
As per SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014 and clarifications provided by SEBI.
“Any person who makes the recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations.”
Disclaimer: I do not hold any position in Engineers India.