CESC gains on bargain hunting

CESC rose 1.05% to Rs 638 at 15:15 IST on BSE on bargain hunting after the stock fell 11.82% in the preceding eight trading sessions to Rs 631.40 on 15 December 2014, from a recent high of Rs 716 on 3 December 2014.

Meanwhile, the BSE Sensex was down 465.25 points, or 1.70%, to 26,854.31.

On BSE, so far 29,000 shares were traded in the counter, compared with an average volume of 32,176 shares in the past one quarter.

The stock hit a high of Rs 649.70 and a low of Rs 617.20 so far during the day. The stock hit a record high of Rs 828.10 on 16 September 2014. The stock hit a 52-week low of Rs 399 on 30 January 2014.

The stock had underperformed the market over the past one month till 15 December 2014, falling 16.61% compared with 2.59% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 22.31% as against Sensex's 1.88% rise.

The mid-cap company has an equity capital of Rs 132.56 crore. Face value per share is Rs 10.

CESC's net profit rose 12.28% to Rs 192 crore on 1.15% increase in total income to Rs 1678 crore in Q2 September 2014 over Q2 September 2013.

CESC is India's first fully integrated electrical utility company.

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