Bharat Wire Ropes gains after winning new orders

Bharat Wire Ropes rose 12.73% to Rs 128 at 12:25 IST on BSE after the company said it won new orders worth about Rs 48 crore from domestic and international market.

The announcement was made during trading hours today, 19 December 2017.

Meanwhile, the S&P BSE Sensex was up 93.85 points, or 0.28% to 33,695.53.

On the BSE, 3.46 lakh shares were traded in the counter so far, compared with average daily volumes of 1.43 lakh shares in the past two weeks. The stock had hit a high of Rs 129.55 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 115 so far during the day. The stock hit a 52-week low of Rs 50.85 on 19 December 2016.

Bharat Wire Ropes announced that it has won fresh orders worth approximately Rs 48 crore from domestic and international market since 18 October 2017. The majority of orders are from renowned European customers.

Bharat Wire Ropes reported net loss of Rs 4.27 crore in Q2 September 2017 compared with net profit of Rs 0.41 crore in Q2 September 2016. Net sales rose 97.7% to Rs 33 crore in Q2 September 2017 over Q2 September 2016.

Bharat Wire Ropes is one of the largest manufacturer of steel wire rope in India and globally.

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