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Generic Engineering soars on bagging two orders worth Rs 80.29 crore

Generic Engineering Construction & Projects is currently trading at Rs. 71.90, up by 0.90 points or 1.27% from its previous closing of Rs. 71.00 on the BSE.

The scrip opened at Rs. 72.00 and has touched a high and low of Rs. 73.05 and Rs. 70.75 respectively. So far 1255 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 5 has touched a 52 week high of Rs. 185.00 on 28-Sep-2018 and a 52 week low of Rs. 64.60 on 02-Aug-2019.

Last one week high and low of the scrip stood at Rs. 75.00 and Rs. 65.05 respectively. The current market cap of the company is Rs. 290.04 crore.

The promoters holding in the company stood at 52.47%, while Institutions and Non-Institutions held 1.64% and 45.89% respectively.

Generic Engineering Construction and Projects has received two orders worth Rs 80.29 crore from Mahindra Happinest Developers and Milagro Infrastructure.

The first order is worth Rs 67.41 crore for construction of residential project named ‘Happinest Kalyan’ which includes 7 residential towers and Multi Level Car Parking. The project is to be executed in 18 to 24 months. The second order is worth Rs 12.88 crore for construction of hotel ‘IBIS Styles’ at Vagatore, Goa. The hotel building involves construction of Ground plus 3 Floors and constitutes 136 keys. The project is to be executed in 12 months.

Generic Engineering Construction and Projects, formerly Welplace Portfolio & Financial Consultancy Services, is an India-based company, which is engaged in construction business.

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