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Vindhya Telelinks extends gains

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rose 2.69% to Rs 766 at 15:00 on BSE, with the stock extending Tuesday's gains triggered by the company reporting strong Q4 March 2017 earnings.

Meanwhile, the S&P Sensex was up 51.43 points or 0.17% at 30,634.03. The S&P Small-Cap index was down 23.70 points or 0.15% at 15,685.89.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volume of 4,382 shares in the past one quarter. The stock had hit a high of Rs 790 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 750 so far during the day. The stock had hit a 52-week low of Rs 510.65 on 29 September 2016.

The stock had outperformed the market over the past one month till 16 May 2017, advancing 7.66% compared with the Sensex's 3.81% rise. The scrip had also outperformed the market over the past one quarter, gaining 22.34% as against the Sensex's 8.06% rise.

The small-cap company has equity capital of Rs 11.85 crore. Face value per share is Rs 10.

Shares of have rallied 11.6% in two trading sessions from its closing of Rs 686.40 on 15 May 2017, after the company announced strong Q4 March 2017 results after market hours on 15 May 2017. The stock had gained 8.67% to settle at Rs 745.95 yesterday, 16 May 2017.

Vindhya Telelinks' net profit rose 15.3% to Rs 23.55 crore on 25.7% increase in net sales to Rs 372.50 crore in Q4 March 2017 over Q4 March 2016.

Meanwhile, in a separate announcement after market hours on Monday, 15 May 2017, the company said that its board approved a proposal for substantial expansion-cum-diversification of the company's existing copper cable facility at Rewa, to be executed in stages, for manufacturing of electron beam irradiated cross-linked cables including installation of electron beam accelerator(s) of appropriate rated capacity, with an estimated capital outlay of Rs 32.75 crore, to be funded by a mix of internal accruals and debt.

The company is presently engaged in the manufacturing of a wide variety of cables and it has been decided to expand its products portfolio by diversification into the high end market of specialized electrical cables and electron beam irradiated cross-linked cables. The substantial expansion-cum-diversification project is likely to be operational in two stages by December 2017, the company said.

is a leading manufacturer and supplier of jelly filled telecommunication cables, as well as of optical fiber telecommunication cables.

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

First Published: Wed, May 17 2017. 15:00 IST