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Surana Solar spurts after winning order

Capital Market 

Surana Solar rose 11.44% to Rs 24.35 at 11:40 on after the company said it won an order worth about Rs 65 crore from Paradip Port

The announcement was made after market hours yesterday, 28 November 2016.

Meanwhile, the Sensex was up 166.80 points, or 0.63%, to 26,516.97.

On BSE, so far 1.04 lakh shares were traded in the counter, compared with average daily volume of 25,420 shares in the past one quarter. The stock hit a high of Rs 25.10 and a low of Rs 23.80 so far during the day. The stock hit a 52-week high of Rs 39.75 on 7 January 2016. The stock hit a 52-week low of Rs 19 on 24 June 2016. The stock had underperformed the market over the past 30 days till 28 November 2016, falling 9.71% compared with the 5.66% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.96% as against Sensex's 7.03% decline.

The small-cap company has equity capital of Rs 24.60 crore. Face value per share is Rs 5.

Surana Solar has been awarded an engineering procurement construction (EPC) contract for design, engineering, procurement & supply, construction & erection, testing, commissioning, associated transmission system & comprehensive operation & maintenance for 10 years of a 10 megawatts (MW) (AC) solar power plant by Paradip Port Trust, Odisha (India). The total EPC contract awarded is Rs 60.60 crore and for Operations and Maintenance (O&M) works for ten years is Rs 4.75 crore, which is more than 50% of the turnover of the financial year 2015-2016.

Net profit of Surana Solar rose 7.50% to Rs 0.43 crore on 25.30% decline in net sales to Rs 17.69 crore in Q2 September 2016 over Q2 September 2015.

Surana Solar is one of the leading manufacturers of solar photovoltaic modules in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 11:34 IST