GPT Infraprojects spurts on bonus issue plan

GPT Infraprojects rose 9.09% to Rs 269.45 at 14:15 IST on BSE after the company said its board will consider bonus issue on 23 May 2017.

The announcement was made during trading hours today, 18 May 2017.

Meanwhile, the S&P BSE Sensex was down 139.31 points, or 0.45% to 30,519.46.

On the BSE, 4,604 shares were traded in the counter so far, compared with average daily volumes of 10,732 shares in the past one quarter. The stock had hit a high of Rs 275 and a low of Rs 244.95 so far during the day. The stock hit a record high of Rs 299.85 on 3 October 2016. The stock hit a 52-week low of Rs 192.05 on 21 November 2016.

The stock had underperformed the market over the past one month till 17 May 2017, rising 4.55% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.08% as against Sensex's 8.33% rise.

The small-cap company has equity capital of Rs 14.54 crore. Face value per share is Rs 10.

GPT Infraprojects said that its board will meet on 23 May 2017 to consider bonus issue of shares. The board will also consider raising funds by issuing equity shares and/or other securities. Further, the board will also consider audited financial results of the company for the quarter and year ended 31 March 2017.

On a consolidated basis, net profit of GPT Infraprojects declined 14.45% to Rs 3.02 crore on 13.81% decline in net sales to Rs 106.15 crore in Q3 December 2016 over Q3 December 2015.

GPT Infraprojects is an infrastructure company based out of Kolkata.

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