ALSTOM India bucks trend after winning new order

ALSTOM India rose 1.11% to Rs 369 at 10:21 IST on BSE after the company said it won an order to supply components to Bhel for Neyveli New Thermal Power Project.

The announcement was made after trading hours on Wednesday, 18 December 2013.

Meanwhile, the BSE Sensex was down 176.47 points, or 0.85%, to 20,683.39.

On BSE, so far 2,459 shares were traded in the counter, compared with an average volume of 12,870 shares in the past one quarter.

The stock hit a high of Rs 376.50 and a low of Rs 367.10 so far during the day. The stock hit a 52-week high of Rs 418 on 31 December 2012. The stock hit a 52-week low of Rs 285 on 6 August 2013.

The stock had outperformed the market over the past one month till 18 December 2013, rising 5.74% compared with the Sensex's 0.04% rise. The scrip had also outperformed the market in past one quarter, gaining 12.45% as against Sensex's 4.50% rise.

The mid-cap company has an equity capital of Rs 67.23 crore. Face value per share is Rs 10.

Alstom has been awarded a contract worth close to 125 million euros (around Rs 1070 crore) by Bhel for the 2X500 megawatts (MW) Neyveli New Thermal Power Project (NNTPP) located at Neyveli in the state of Tamil Nadu in India.

Under the scope of the contract, Alstom will co-operate with Bhel in conceptualising, designing, engineering and supplying two tower boilers and the complete lignite milling and firing equipment, and critical components.

Out of the entire aforesaid contract, ALSTOM India's scope of work would be 65 million euros (Rs 556 crore).

ALSTOM India's net profit fell 49% to Rs 27.84 crore on 20.2% decline in net sales to Rs 590.04 crore in Q2 September 2013 over Q2 September 2012.

ALSTOM India provides engineering, manufacturing, project management and supply of products and solutions for infrastructure sector.

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