Micro Cap Stock Surges 7% After Bagging ₹112 Cr Order

Shares of BGR Energy Systems surged up 7% on Friday to hit a new 52-week high of ₹83.90.

What Happened: The surge today comes as the company on Thursday evening announced bagging a massive order from Mangalore Refinery and Petrochemicals Limited. The ₹112.74-crore order is for the supply of Air Cooled Heat Exchanges (ACHE). The order is to be completed by next October.

The announcement helped the stock jump back into the green today after it closed on Thursday around 2.5% lower. Shares of the company have surged around 60% in the past six months.

BGR Energy’s share price over the past six months.

With a market cap of around ₹600 crore, the micro-cap company carries on the business in two segments, the supply of systems and equipment and turnkey engineering project contracting.

Price Action: BGR Energy’s share price was up 6.28% to trade at ₹82.10 shortly after the markets opened on Friday.

Read Next: Why These Two Railway Stocks Are Surging Upto 5% Today

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasBGR Energy Systems