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Artson Engineering zooms on getting LoI from Tata Projects for contract worth Rs 20.32 crore

Artson Engineering is currently trading at Rs. 38.75, up by 1.75 points or 4.73% from its previous closing of Rs. 37.00 on the BSE.

The scrip opened at Rs. 38.70 and has touched a high and low of Rs. 38.75 and Rs. 38.70 respectively.

The BSE group ‘X’ stock of face value Rs. 1 has touched a 52 week high of Rs. 73.85 on 08-May-2018 and a 52 week low of Rs. 29.05 on 19-Feb-2019.

Last one week high and low of the scrip stood at Rs. 41.95 and Rs. 37.00 respectively. The current market cap of the company is Rs. 143.07 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 0.01% and 24.99% respectively.

Artson Engineering has received a Letter of Intent (LoI) from Tata Projects for the contract worth Rs 20.32 crore. The nature of the contract is to supply and manufacturing of 6 Nos. Air Vessels (Total weight – 1320 Metric Tons) under CCOE, PESO approval. The period by which the contract is to be executed is 11 Months from the date of LoA.

Artson Engineering is engaged in pioneering work in developing products and systems in fuel handling and tankage construction activities in refineries, which led the company to become one of the foremost companies in India with specialization in Petroleum Storage and handling systems.

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