Modern Engineering And Projects Ltd Receives Work Order From Tata Steel Limited
Modern Engineering And Projects Ltd has secured a Work Order from Tata Steel Limited for the construction of a Priority Bituminous Trunk Road earmarked for the NEELACHAL ISPAT NIGAM LIMITED expansion Project.The transaction details outline the scope of the awarded contract, which is an Item Rate Agreement. The estimated Contract Price under this Agreement is Rs. 600,000,000.00 (Rupees Sixty Crores Only). This estimated Contract Price is stated to be net of GST, with any and all other applicable taxes, duties, levies, or cess being included in the Contract Rates (Schedule of Item Rates).
The contract is categorized as a Work Order awarded by a domestic entity. The anticipated execution timeline for this order is approximately 1 year. Regarding the financial scale, the Order Value is noted to be about Rs. 60.00/- Crores.
Key details regarding the awarded order are summarized in the following table:
| Particulars | Details |
|---|---|
| Name of the entity awarding the order(s)/contracts(s) | Tata Steel Limited |
| Nature of order(s) / contract(s) | Work Order |
| Estimated Contract Price | Rs. 600,000,000.00 |
| Order Value | Rs. 60.00/- Crores |
| Time Period for Execution | Approx. 1 year |
The details confirm that there is no interest held by the promoter or promoter group/group companies in the entity that awarded the order. Furthermore, the contract does not fall within related party transactions.
Stock Price Movement
On Friday, shares of Modern Engineering And Projects Ltd settled at ₹33.80, gaining 2.80% for the day. The stock exhibited intraday volatility, swinging between a low of ₹33.10 and an overhead resistance mark at ₹34.57.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.