CMI gains after winning order

CMI rose 2.29% to Rs 254.80 at 12:09 IST on BSE after the company said its wholly-owned subsidiary bagged an order from Engineers India.

The announcement was made during trading hours today, 20 February 2018.

Meanwhile, the S&P BSE Sensex was up 59.09 points, or 0.17% to 33,833.75.

On the BSE, 2,389 shares were traded in the counter so far compared with average daily volumes of 28,199 shares in the past one quarter. The stock had hit a high of Rs 254.60 and a low of Rs 245 so far during the day. The stock hit a 52-week high of Rs 308 on 15 January 2018. The stock hit a 52-week low of Rs 161.10 on 31 March 2017.

The stock had underperformed the market over the past 30 days till 19 February 2018, falling 11.21% compared with 4.89% fall in the Sensex. The scrip had outperformed the market in past one quarter, rising 23.29% as against Sensex's 0.89% rise. The scrip had outperformed the market in past one year, rising 45.93% as against Sensex's 17.84% rise.

The small-cap company has equity capital of Rs 15.03 crore. Face value per share is Rs 10.

CMI Energy India, the wholly-owned subsidiary of CMI, bagged an initial order from Engineers India (EIL) for supplying High Voltage (HV) cables in different sizes and quantities.

This is for the first time CMI Energy has bagged order from EIL and has entered into the business of HV cable business with them. With this order CMI energy has formed an association with EIL, Delhi as a vendor, which opens up enormous business opportunities in the future with them and their clients in a big way, the company said.

On a consolidated basis, net profit of CMI rose 232.04% to Rs 6.84 crore on 79.99% rise in net sales to Rs 134.49 crore in Q3 December 2017 over Q3 December 2016.

CMI is of one of the leading companies in the manufacturing of various types of cables that meet requirements of a wide spectrum of clients Like railways and metros, power generation, distribution and transmission, industrial, telecom, building construction & infra, etc.

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