Capacit'e Infraprojects gets stronger on bagging contract

Capacit'e Infraprojects gained 4.89% to Rs 385 at 11:40 IST on BSE after the company announced that it has bagged a contract worth Rs 825.01 crore from Arihant Abode, a subsidiary of Arihant Superstructures.

The announcement was made during market hours today, 6 November 2017.

Meanwhile, the S&P BSE Sensex was down 1.96 points, or 0.01% to 33,683.60. The S&P BSE Small-Cap index was up 116.85 points, or 0.65% to 17,972.88, outperforming the Sensex.

On the BSE, 1.83 lakh shares were traded in the counter so far, compared with average daily volumes of 3.28 lakh shares in the past one quarter. The stock had hit a high of Rs 388.80 and a low of Rs 371 so far during the day. The stock had hit a record high of Rs 399 on its listing day on 25 September 2017. The stock had hit a record low of Rs 327.30 on 4 October 2017.

The stock has jumped 14.68% in four sessions to its ruling price, from a close of Rs 335.70 on 31 October 2017.

The stock had outperformed the market over the past one month till 3 November 2017, gaining 10.32% compared with 6.95% gains in the Sensex.

The mid-cap company has equity capital of Rs 67.89 crore. Face value per share is Rs 10.

Shares of Arihant Superstructures rose 2.6% to Rs 177.50.

Capacit'e Infraprojects said that the contract is for affordable housing project christened Arihant Aspire at Panvel, Maharashtra, in proximity to the proposed Navi Mumbai international airport.

The scope of the work includes construction of civil & structural, finishing and mechanical, electrical, and plumbing works to be executed in phases for 8 residential buildings of 42 floors each. The company's order backlog crossed Rs 5000 crore.

Shares of Capacite Infraprojects made debut on the bourses on 25 September 2017.

The company's net profit rose 45.4% to Rs 69.31 crore on 39.9% rise in net sales to Rs 1125.08 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

Capacite Infraprojects is a construction company focused on residential, commercial and Institutional buildings. The company provides end-to-end construction services for residential buildings, commercial (multi-level car parks, corporate office buildings and buildings for commercial purposes) buildings and institutional (educational, hospitality and healthcare purposes) buildings.

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