McNally Bharat on Wednesday is outperforming broader markets, and the stock is up by nearly 10% on an intraday basis. The Company on Wednesday, announced that it has received an order for design, manufacturing, engineering, commissioning, supply and operation & maintenance of 500MW grid connected Solar PV project.
The project includes civil work in Andhra Pradesh on a EPC basis for Andhra Pradesh Power Generation Corporation Limited for a value of Rs 415.29 crore (approx).
The stock of the construction company, in a period of one year has delivered negative returns of 18%, underperforming the BSE Small-cap and Nifty Infrastructure indices over the same time period.
McNally Bharat is involved in projects pertaining to infrastructure and related manufacturing activities. It provides solutions in the areas of power, steel, aluminium, material handling, mineral beneficiation, pyro processing and others.