Shares of Engineers India Ltd fell 5% on 14th August after touching a day’s high of Rs 200.39. This occurred despite the firm announcing it had signed a memorandum of understanding (MoU) with Nuclear Power Corporation of India Ltd. (NPCIL) to provide engineering services for the conceptual design and engineering of structures, systems, and components of the Bharat Small Modular Reactor.

The MoU was signed on 12th August at NPCIL’s Mumbai office. Engineers India stated that the partnership aligns with the Centre’s goal to boost nuclear power for clean, reliable energy. This also supports the Nuclear Energy Mission for a Vibrant India, aiming for a 100 GW atomic capacity by 2047.

In Q1 results announced on 13th August, the company’s net profit fell 28.6% to Rs 65.4 crore from Rs 91.6 crore a year ago. Revenue rose 39.4% to Rs 870 crore, while EBITDA grew 40.3% to Rs 72.1 crore. Operating margins stood at 8.3%, a slight increase from 8.2% last year.

At 2:36 PM, the shares of Engineers India were trading 4.91% lower at Rs 191.36 on NSE.

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