Konstelec Engineers Limited (KEL), an engineering, procurement, and construction company, has acquired a whopping INR 39.63 crores contract from National Aluminium Company (NALCO), which they are to deliver within the next 12 months (from the date of LoA).
The Letter of Approval (LoA) of the contract was signed on October 14, 2024, where the details of the aluminium electrical project work have been chalked out by both parties. The domestic project is scheduled to commence at the Alumina Refinery and M&R Complex in Damanjodi, Odisha, and the Visakhapatnam Port Facilities area.
However, this is not the first time the companies have come together in business. On September 16, 2024, NALCO bestowed a deal of INR 12.58 Crores to KEL for aluminium instrumentation work, which is also scheduled to be delivered within a year.
Konstelec Engineers Limited, a company with almost 30 years of expertise in domestic as well as international engineering, procurement, and construction sectors, has a market cap of INR 263 crore with more than 200 projects in their success story. Their top clients are Reliance Industries, JSW Steel, Indian Oil among others.
On October 13, stakes of Konstelec Engineers Ltd gained 0.43 per cent to INR 174 per unit from its prior closing of INR 173.25 per share with an intraday high of INR 177.95 and an intraday low of INR 172.60. The stock is up by 22 per cent from its 52-week low of Rs 145.05 per share.
Responses
