C&C Constructions turns volatile after L&T Infra offloads bulk shares

C&C Constructions rose 3.94% at Rs 13.97 at 12:38 IST on BSE after L&T Infrastructure Finance Company offloaded 1.32 lakh shares of the company at Rs 13.45 per share in a bulk deal on the NSE yesterday, 1 December 2015.

Meanwhile, the S&P BSE Sensex was down 80.35 points or 0.31% at 26,089.06.

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 54,397 shares in the past one quarter.

The stock was volatile. The stock rose 5% at the day's high of Rs 14.11 so far during the day. The stock lost 0.14% at the day's low of Rs 13.42 so far during the day. The stock had hit a record low of Rs 10.20 on 21 September 2015. The stock had hit a 52-week high of Rs 42.90 on 1 December 2014.

The stock had underperformed the market over the past one month till 1 December 2015, sliding 3.66% compared with Sensex's 1.83% fall. The scrip had also underperformed the market in past one quarter, declining 2.18% as against Sensex's 1.84% rise.

The small-cap company has equity capital of Rs 25.45 crore. Face value per share is Rs 10.

On consolidated basis, C&C Constructions reported net loss of Rs 4.53 crore in Q1 September 2015, lower than net loss of Rs 45.98 crore in Q1 September 2014. Net sales rose 13.3% to Rs 289.17 crore in Q1 September 2015 over Q1 September 2014.

C & C Constructions is construction conglomerate focused on creating infrastructure assets.

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