Gravity grips Sunil Hitech Engineers after bulk deal

Sunil Hitech Engineers lost 4.28% to Rs 167.90 at 11:48 IST on BSE after a bulk deal of 4.24 lakh shares was executed on the scrip at Rs 171.70 per share in opening trade on BSE.

Meanwhile, the S&P BSE Sensex was up 64.63 points or 0.25% at 26,025.41

Bulk deal boosted volume on the scrip. On BSE, so far 28.70 lakh shares were traded in the counter as against average daily volume of 2.51 lakh shares in the past one quarter. The stock hit a high of Rs 184 and a low of Rs 166.65 so far during the day. The stock had hit a record high of Rs 468.65 on 20 October 2016. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, sliding 59.85% compared with the 7.87% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 6.28% as against Sensex's 7.48% decline.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

Sunil Hitech Engineers' net profit rose 39.74% to Rs 14.84 crore on 19.6% growth in net sales to Rs 496.91 crore in Q2 September 2016 over Q2 September 2015.

Sunil Hitech Engineers is an engineering, procurement & construction (EPC) company.

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