Duke Offshore spurts 43.5% in two sessions

Duke Offshore was locked at 20% upper circuit at Rs 61 at 10:38 IST on BSE, with the stock extending Friday's rally triggered by the company securing a contract from the defence ministry.

Meanwhile, the S&P BSE Sensex was up 125.39 points or 0.49% at 25,644.61.

On BSE, so far 76,000 shares were traded in the counter as against average daily volume of 11,021 shares in the past one quarter.

The stock hit a low of Rs 51.95 so far during the day. The stock had hit a record high of Rs 77.95 on 7 July 2015. The stock had hit a 52-week low of Rs 17.85 on 26 March 2015.

The stock had outperformed the market over the past one month till 18 December 2015, surging 39.89% compared with Sensex's 0.14% rise. The scrip had also outperformed the market in past one quarter, gaining 4.09% as against Sensex's 2.67% fall.

The small-cap company has equity capital of Rs 6.31 crore. Face value per share is Rs 10.

Shares of Duke Offshore have rallied 43.52% in two trading sessions from its recent low of Rs 42.50 on 17 December 2015, after the company during market hours on Friday, 18 December 2015 said it has secured a contract to provide 10 high speed boats and been appointed as official vendor for same by ministry of defence for Indian Navy's International Feet Review to be held in India. The stock had rallied 19.64% to settle at Rs 50.85 on Friday, 18 December 2015.

Duke Offshore reported net loss of Rs 0.79 crore in Q2 September 2015, higher than net loss of Rs 0.32 crore in Q2 September 2014. Net sales declined 94.4% to Rs 0.05 crore in Q2 September 2015 over Q2 September 2014.

Duke Offshore, headquartered in Mumbai, is engaged in the commissioning of offshore oil field platforms, their maintenance, modification and inspection services.

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