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Hindustan Dorr-Oliver Jumps on Bagging New Order

  • Hindustan Dorr-Oliver surged 6.08% to Rs 25.30 at 9:38 IST on BSE after the company said it has secured an order worth Rs 170 crore from ONGC Petro Additions.The company made this announcement after market hours on Wednesday, 30 November 2011.Meanwhile, the BSE Sensex was up 469.20 points, or 2.91% to 16,592.66.On BSE, 25,000 shares were traded in the counter as against average daily volume of 75,932 shares in the past one quarter.The stock hit a high of Rs 27 and a low of Rs 24.65 so far during the day. The stock had hit a 52-week low of Rs 23.10 on 25 November 2011. The stock had hit a 52-week high of Rs 132.50 on 2 December 2010.
  • The stock had underperformed the market over the past one month till 30 November 2011, falling 36.14% compared with the Sensex's 9.44% fall. The stock had also underperformed the market in past one quarter, sliding 29.96% as against Sensex's decline of 3.32%.The small-cap engineering company has an equity capital of Rs 14.40 crore. Face value per share is Rs 2.Hindustan Dorr-Oliver said it would set up a effluent collection and treatment system for ONGC Petro's petrochemical project in Dahej, Gujarat. The firm said the project is expected to be completed in 24 months.
  • Hindustan Dorr-Oliver said the company had earlier received an order for waste heat recovery system from ACC valued at Rs 68 crore to be completed by December 2012. The company had also received an order for iron ore beneficiation plant from NMDC valued at Rs 128 crore to be completed by November 2012. The company also bagged an order for heavy water upgradation facility for NPCIL valued at Rs 45 crore to be completed by November 2014, the company said in a statement.With the above new orders, the company will have approximately 2000 MT of equipment to be manufactured at company's own factory at Ahmedabad, Hindustan Dorr-Oliver added.
  • Hindustan Dorr-Oliver further added that the company will also be utilizing approximately 1.20 lakh man-hours of design, engineering from company's own centres in Ahmedabad, Bangalore, Chennai and Mumbai.Hindustan Dorr-Oliver's net profit fell 86.4% to Rs 2.80 crore on 39% decline in net sales to Rs 148.76 crore in Q2 September 2011 over Q2 September 2010.Hindustan Dorr-Oliver is an engineering, procurement and construction company with a facility at Vatva in Ahmedabad to manufacture pressure vessels, heat exchangers, storage tanks and other proprietary solid-liquid separation equipments like filters, classifiers, thickeners, clarifiers etc.

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