Capacite Infra spurts after I-T dept concludes search ops

Capacite Infraprojects rose 8.16% to Rs 191.45 at 15:09 after the company offered updates on search conducted by Income Tax Department.

The construction firm said that the Income Tax Department has conducted a search at the premises of the company and the same was concluded on 25 August 2019.

Capacite Infraprojects informed that no irregularities have been found during the search operation by the Authorities against the company. It further added that there have been no claims made against the company nor have there been any disclosures. The above proceedings have no impact on the financial and operational performance of the company.

The company is providing all possible assistance to the Authorities in this matter, the firm said in an exchange filing. The announcement was made during market hours today, 26 August 2019.

On the BSE, 47751 shares were traded in the counter so far compared with average daily volumes of 9342 shares in the past one quarter. The stock hit a high of Rs 196.95 and a low of Rs 177.75 so far during the day.

The stock hit a 52-week high of Rs 295 on 06 Jun 2019. The stock hit a 52-week low of Rs 156 on 21 Aug 2019.

On a consolidated basis, the company's net profit rose 3% to Rs 23.62 crore on a 1.7% rise in the net sales to Rs 411.22 crore in Q1 June 2019 over Q1 June 2018.

Capacite Infraprojects is a commercial and institutional building construction company.

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