AXISCADES Engineering gains on plans to open engineering centre in Hyderabad

AXISCADES Engineering Technologies rose 1.63% to Rs 262.60 at 14:18 IST on BSE after the company said it will be inaugurating its new engineering offshore development centre, for Siemens Wind Power, in Hyderabad on 24 September 2015.

The announcement was made during market hours today, 22 September 2015.

Meanwhile, the BSE Sensex was down 424.34 points, or 1.62% to 25,768.64

On BSE, so far 1.68 lakh shares were traded in the counter as against average daily volume of 82,701 shares in the past one quarter.

The stock hit a high of Rs 279 and a low of Rs 260 so far during the day. The stock had hit a 52-week low of Rs 111 on 10 November 2014. The stock hit a record high of Rs 395.50 on 9 April 2015.

The stock had underperformed the market over the past one month till 21 September 2015, falling 18.77% compared with Sensex's 4.29% fall. The scrip, however, outperformed the market in past one quarter, gaining 21.89% as against Sensex's 4.11% fall.

The small-cap company has an equity capital of Rs 13.59 crore. Face value per share is Rs 5.

On a consolidated basis, AXISCADES Engineering Technologies' net profit rose 69.1% to Rs 6.19 crore on 19.8% growth in total income to Rs 86.40 crore in Q1 June 2015 over Q1 June 2014.

AXISCADES Engineering Technologies is one of India's leading technology solutions provider, catering to the futuristic needs of Aerospace, Defense, Heavy Engineering, Automotive and Industrial Production sectors.

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