Jan 18: Sanghvi Forging & Engineering Ltd (SFEL), one of the top engineering and forging companies in India, on Thursday announced that it has bagged orders worth Rs 11 crore from oil & gas sector.
“The said order has been bagged from the Domestic Market. The order has been secured from the Oil & Gas Sector which will further boost the sales of the company resulting intoincreased capacity utilization,” according to the company.
Commenting on the order win, Jayanti Sanghvi, Managing Director, Sanghvi Forging & Engineering Ltd, said, “we are very glad to announce the news of winning an order of Rs 11 crore from oil & gas sector. The said order will help the company to boost the sales hereby resulting into increased capacity utilization. It will support the company to strengthen its position in the oil & gas sector and to establish itself as a leading player in the same. These orders will be executed in the next 12 months.”
Shares of the company surged more 5% in today morning trade on BSE after the news came in. At 11.55 am, the Rs 10 face value shares were trading at Rs 43.70, up 4.42% from the previous closing of Rs 41.85.