07-Oct-2026      15:08

Modern Engineering and Projects jumps 19.98% after securing Rs 113.26 crore contract from Neelachal Ispat Nigam

Modern Engineering and Projects Ltd. shares surge 19.98% to Rs 27.38, extending a recent rally that has seen the stock climb 9.21% over the last one week.

Modern Engineering and Projects Limited has been awarded a Letter of Award (LOA) from NEELACHAL ISPAT NIGAM LIMITED (NINL) for Area Grading works at the NINL Expansion Project, with an estimated contract price of Rs 113,26,49,000.00 (Rupees One Hundred Thirteen Crores Twenty-Six Lakhs and Forty-Nine Thousand only), net of Goods & Services Tax (GST), and the project is expected to be completed within six months from the date of the award, which was October 6, 2026.

Trading volume reached 60873 shares today, a surge of 542.12% compared to the average volume of the last one week. Modern Engineering and Projects Ltd plunged by 32.09% year-over-year, underperforming the 9.18% loss recorded by the NIFTY50 index.

News source: Capital Market - Live News