Bharat Bijlee drops on profit booking

Bharat Bijlee lost 2.32% to Rs 1,418.85 at 12:21 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 126.65 points, or 0.4% at 31,164.09. The S&P BSE Small-Cap index was down 273.67 points, or 1.75% at 15,335.82.

On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 15,969 shares in the past one quarter. The stock had hit a high of Rs 1,469.50 and a low of Rs 1,402.10 so far during the day. The stock had hit a 52-week high of Rs 1,498.70 on 22 June 2017 and a 52-week low of Rs 719.75 on 17 August 2016.

The stock had outperformed the market over the past one month till 22 June 2017, advancing 35.6% compared with the Sensex's 2.35% rise. The scrip had also outperformed the market over the past one quarter gaining 73.04% as against the Sensex's 7.28% rise. The scrip had also outperformed the market over the past one year advancing 57.09% as against the Sensex's 16.91% rise.

The small-cap company has equity capital of Rs 5.65 crore. Face value per share is Rs 10.

Shares of Bharat Bijlee had rallied 22.8% in the preceding four trading sessions to settle at Rs 1,452.50 yesterday, 22 June 2017, from its close of Rs 1,182.85 on 16 June 2017.

Bharat Bijlee's net profit spurted 317.5% to Rs 10.27 crore on 31.2% increase in net sales to Rs 222.12 crore in Q4 March 2017 over Q4 March 2016.

Bharat Bijlee is one of the leading electrical engineering companies in India. The company's main business segments are transformers, projects, electric motors, elevator systems and drives & automation.

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