Shares of Engineers India ended 2.3 percent lower after the stock witnessed profit booking from a five-year high that it hit earlier in the day on Tuesday. The stock snapped a three-day winning streak.

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In a filing to the stock exchanges, EIL said that it has received an order from Oil and Natural Gas Corporation Ltd. for revamping of its gas terminal at Hazira plant in Gujarat.

The scope of the work includes projects for revamping of SV stations, gas terminal and Kribhco terminal of ONGC, Hazira Plant on Engineering, procurement, and construction (EPC) reimbursable basis.

"The total estimated order value is about Rs 837.34 crore with a project completion schedule of about 45 months," the engineering consultancy firm said in the stock exchange filing.

Engineers India is set to announce its financial results for three months ended June 2023 on August 2.

In February, the state-owned company announced that it signed a Memorandum of Understanding with Munitions India Ltd. on the sidelines of the Aero India 2023 airshow in Bengaluru.

EIL entered into a deal with Munitions India in a bid to execute the company’s plant modernisation and infrastructure projects.

The pact was strategic in nature and involved defence-related sensitive information.

In addition to the Indian PSUs, Engineers India also carried out consultancy assignments for the Abu Dhabi National Oil Group of Companies and for oil and gas companies in Kuwait and Bahrain.

EIL is a leading engineering consultancy and EPC company, delivering projects for clients across the globe. The Central Government owns over 51 percent stake in the company.

Shares of Engineers India ended 2.3 percent lower at Rs 155.