Roto Pumps zooms 44% in two days; stock nears 52-week high

The stock was locked in upper circuit for second straight day, up 20 per cent at Rs 143 on the BSE, on back of delivery-based buying.

Roto Pumps shares were locked in upper circuit for second straight day, up 20 per cent at Rs 143 on the BSE, on the back of delivery-based buying. The stock of industrial machinery company zoomed 44 per cent in the last two trading days, in an otherwise range-bound market. In comparison, the benchmark S&P BSE Sensex was up 0.25 per cent at 39,078 levels.

The trading volumes on the counter jumped eight-fold with 1,32,000 shares changing hands till 11:59 am, as compared to 16,000 shares that were being traded daily in past two weeks on the BSE. There were pending buy orders for 2,87,415 shares, the BSE data shows.

On Thursday, out of total 80,199 traded shares, 84 per cent or 67,018 shares converted in to delivery, according to BSE data. The name of the buyers and sellers were not ascertained immediately.

The stock of Roto Pumps was trading close to its 52-week high of Rs 144 touched on August 31, 2018. It hit an all-time high of Rs 175 on January 1, 2015 on the BSE in intra-day trade.

Roto Pumps provide mission-critical comprehensive solutions to almost every industry - oil & gas, paper & pulp, distilleries & breweries, construction, navy and coast guard.

For nine months ended 31st December 2018, Roto Pumps' net profit more than doubled to Rs 9.90 crore on back of strong operational performance. It had profit of Rs 4.44 crore during the same period last year. Operational revenue rose 25 per cent at Rs 89 crore from Rs 71 crore in corresponding period previous year. Operating margin improved to 21.15 per cent as against 18.61 per cent in similar period in fiscal 2018.