Engineers India Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Small Cap

Under the MoU, EIL and Detect Technologies will collaborate to provide real time artificial intelligence (AI) based monitoring for implementing safe practices and progress monitoring at construction sites for various projects being executed by EIL.

This MoU will facilitate implementation, operation and maintenance of an AI-based solution using cameras, drones, and cloud computing for maintaining safe work environment at site with an objective to avoid loss time accidents/injuries, and monitoring of project progress.

This collaboration aligns with EIL's commitment to creating the safest possible environment for personnel at work sites by strictly adhering to the highest regulatory standards. This commitment ensures zero tolerance for safety and occupational hazards across various projects, thereby contributing to the social, economic, and holistic growth of society and the country at large.

Vartika Shukla, CMD, EIL, said: This MoU underscores EIL's commitment to ensuring the utmost safety standards across projects. By leveraging cutting-edge digital technologies, we aim to enhance safety, mitigate risks, and drive sustainable development in our operations.

Engineers India (EIL) is an engineering consultancy and technology licensing company in the fields of hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, and other sectors of industry, having a DSIR-recognized R&D center. As of 31 December 2023, the Government of India held a 51.32% stake in the company.

The company reported a consolidated net profit of Rs 63.35 crore in Q3 FY24 as against Rs 16.12 crore posted in Q3 FY23. Revenue from operation stood at Rs 867.64 crore in the December quarter, up 3.02% from Rs 842.18 crore recorded in Q3 FY23.

The scrip fell 2.77% to currently trade at Rs 212.30 on the BSE.

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Engineers India and Detect Technologies have signed a Memorandum of Understanding (MoU) for Real Time Artificial Intelligence (AI) based Monitoring for Implementing Safe Practices at Construction Sites and Progress Monitoring for the Clients in India and abroad.

Under the MoU, EIL and Detect Technologies will collaborate to provide Real Time Artificial Intelligence (AI) based monitoring for implementing safe practices and progress monitoring at construction sites for various projects being executed by EIL. This MoU will facilitate implementation, operation and maintenance of an AI based solution using cameras, drones, and cloud computing for maintaining safe work environment at site with an objective to avoid Loss Time Accidents/injuries, and monitoring of project progress.

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IRB Infrastructure Developers Ltd, Action Construction Equipment Ltd, Graphite India Ltd and NCC Ltd are among the other gainers in the BSE's 'A' group today, 21 March 2024.

Engineers India Ltd surged 9.51% to Rs 191.15 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 8.39 lakh shares were traded on the counter so far as against the average daily volumes of 5.35 lakh shares in the past one month.

IRB Infrastructure Developers Ltd soared 7.49% to Rs 58. The stock was the second biggest gainer in 'A' group. On the BSE, 26.98 lakh shares were traded on the counter so far as against the average daily volumes of 23.54 lakh shares in the past one month.

Action Construction Equipment Ltd spiked 7.20% to Rs 1367.35. The stock was the third biggest gainer in 'A' group. On the BSE, 31821 shares were traded on the counter so far as against the average daily volumes of 79006 shares in the past one month.

Graphite India Ltd exploded 7.11% to Rs 630.05. The stock was the fourth biggest gainer in 'A' group. On the BSE, 2 lakh shares were traded on the counter so far as against the average daily volumes of 1.18 lakh shares in the past one month.

NCC Ltd added 7.01% to Rs 233.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 5.02 lakh shares were traded on the counter so far as against the average daily volumes of 6.01 lakh shares in the past one month.

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Net profit of Engineers India rose 292.99% to Rs 63.35 crore in the quarter ended December 2023 as against Rs 16.12 crore during the previous quarter ended December 2022. Sales rose 3.02% to Rs 867.64 crore in the quarter ended December 2023 as against Rs 842.18 crore during the previous quarter ended December 2022.

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