BGR Energy Sysems Ltd (Rs.108.40) today closed above its 100 DWMA, which gives the next targets of Rs.113-115. This September, 2013, there were media reports that as a new management team has been re-instated in BGR Energy Systems Ltd. The new management has already indicated that their key focus would be on commissioning power projects on hand and reworking billing cycles to get back receivables. The new team of Chennai-based engineering and construction company, also said that it is looking at working overseas. Net profit of BGR Energy Systems Ltd rose 0.98% to Rs.35.07 crore in the quarter ended September 2013 as against Rs.34.73 crore during the previous quarter ended September 2012. Sales rose 31.84% to Rs.825.98 crore in the quarter ended September 2013 as against Rs.626.49 crore during the previous quarter ended September 2012.
My Recommended IVRCL Ltd (Rs.13.90) and Punj Lloyd Ltd (Rs.26.65) today moved up by around 3% today. I am more bullish on IVRCL Ltd than Punj Lloyd Ltd.Recently, IVRCL Ltd's water division bagged orders worth Rs.1,423.31 crore. IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures. IVRCL has a total order book of Rs.25,000 crore. The company has like most other infrastructure company has been aggressively pursuing BOT projects. The scrip is expected to cross Rs.40, within the next 3-4 months time frame.