A2Z Infra Engineering jumps after overseas order win

A2Z Infra Engineering surged 16.25% to Rs 42.20 at 14:37 IST on BSE after the company was awarded a contract from Ministry of Energy and Mineral Development for contract price aggregating to $3.84 million.

The announcement was made during market hours today, 28 June 2016.

Meanwhile, the BSE Sensex was up 124.47 points, or 0.47%, to 26,527.43

On BSE, so far 17.43 lakh shares were traded in the counter, compared with an average volume of 2.11 lakh shares in the past one quarter. The stock hit a high of Rs 42.90 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 35.90 so far during the day. The stock hit a 52-week low of Rs 14.65 on 30 June 2015. The stock had outperformed the market over the past 30 days till 27 June 2016, rising 44.91% compared with 0.94% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 87.6% as against Sensex's 6.03% rise.

The small-cap company has an equity capital of Rs 126.89 crore. Face value per share is Rs 10.

A2Z Infra Engineering said that a contract has been awarded to the company from Ministry of Energy and Mineral Development (The Republic of Uganda) vide the notification of award/letter of award dated 23 June 2016 for design, supply and construction of MV lines and associated low voltage network in various project areas along Kawanda Masaka 220KV Transmission Line for contract price of aggregating to USD 3.84 million.

A2Z Infra Engineering reported net profit of Rs 6.53 crore in Q4 March 2016 as against net loss of Rs 109.54 crore in Q4 March 2015. Net sales rose 453.48% to Rs 349.58 crore in Q4 March 2016 over Q4 March 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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