CMI gains after receiving order worth Rs 24.64 crore

CMI rose 4.68% to Rs 110.75 at 15:10 IST on BSE after the company said it has received order for supply of fire alarm and plant comm., cable for total value of Rs 24.64 crore from Bharat Petroleum Corporation.

The company made announcement during trading hours today, 30 June 2015.

Meanwhile, the BSE Sensex was up 141.03 points, or 0.51%, to 27,786.18.

On BSE, so far 2.17 lakh shares were traded in the counter, compared with an average volume of 20,288 shares in the past one quarter.

The stock hit a high of Rs 112 and low of Rs 105 so far during the day. The stock hit a record high of Rs 126.50 on 9 April 2015. The stock hit a 52-week low of Rs 33.35 on 27 June 2014.

The stock had outperformed the market over the past one month till 29 June 2015, rising 12.08% compared with 0.66% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.43% as against Sensex's 0.68% gain.

The small-cap firm has an equity capital of Rs 11.45 crore. Face value per share is Rs 10.

CMI said that the company has received order for supply of fire alarm and plant comm., cable on 29 June 2015 for total value of Rs 24.64 crore from Bharat Petroleum Corporation for integrated refinery expansion project at Kochi refinery, as per inspection and testing by Engineers India. The company will complete the execution of the order by 24 November 2015.

CMI's net profit rose 250.8% to Rs 2.07 crore on 93.9% rise in total income to Rs 40.30 crore in Q4 March 2015 over Q4 March 2014.

CMI was incorporated in 1967. CMI (Originally known as Choudhari Metal Industries) was engaged in copper metal trade and copper melting and rod casting and has also diversified to cables.

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