McNally Bharat Eng

McNally Bharat Engineering announced today morning that it has received an order worth Rs.415 crore.

This order is for Design, Engineering, manufacturing, supply, commissioning and operation & maintenance of 500MW grid connected Solar PV power project including civil works in Andhra Pradesh on EPC Basis for Andhra Pradesh Power Generation Corporation.

The company is scheduled to hold an Extraordinary General Meeting tomorrow and amongst other things, it will also consider issue of up to 4,16,66,666 Compulsory Convertible Preference Shares (CCPS) on a preferential basis, of Rs. 10 each at a premium of Rs.56/ CCPS for part conversion of outstanding unsecured loan upto an amount of Rs. 100.00 crores given by Williamson Magor & Co, outstanding unsecured loan upto an amount of Rs. 100.00 crores given by Williamson Financial Services and outstanding unsecured loan upto an amount of Rs. 75.00 crores given by Babcock Borsig , promoter and promoter group companies of the company.

The stock is showing some very good volumes today, up almost 4.5 times and intra day, the stock price soared to Rs.59.85, up over 12%,