GTPL Hathway gains after winning orders

GTPL Hathway rose 2.95% to Rs 136 at 10:11 IST on BSE after the company said it bagged multiple orders worth Rs 48.16 crore from Government of Gujarat.

The announcement was made after market hours on Friday, 1 September 2017.

Meanwhile, the S&P BSE Sensex was down 57.81 points, or 0.18% to 31,834.42.

On the BSE, 12,000 shares were traded in the counter so far, compared with average daily volumes of 94,000 shares in the past two weeks. The stock had hit a high of Rs 138.80 and a low of Rs 135.50 so far during the day. The stock hit a record high of Rs 190.30 on 11 July 2017. The stock hit a record low of Rs 126.60 on 24 August 2017.

The stock had underperformed the market over the past one month till 1 September 2017, falling 10.29% compared with 1.07% decline in the Sensex.

Shares of GTPL Hathway were listed on the stock exchanges on 4 July 2017. The stock debuted on a flat note at Rs 170 compared with the initial public offer (IPO) price of Rs 170. On that day, it settled at Rs 171.65 on BSE, a premium of 0.97% over the IPO price of Rs 170.

The small-cap company has equity capital of Rs 112.46 crore. Face value per share is Rs 10.

GTPL Hathway said its wholly-owned subsidiary, GTPL Broadband, won a five-year contract from Gujarat Informatics worth an estimated sum of Rs 28.88 crore. The order is for providing Wi-Fi services on service/rental module including (design, built, and operations & management) for state-wide public wi-fi hotspots under Gujarat State Urban Area Network (GSUAN).

In a separate announcement after market hours on Friday, 1 September 2017, the company said that it won a five-year contract worth Rs 19.28 crore from the Home Department, Government of Gujarat. The order is for supply, installation, commissioning and maintenance of Internet bandwidth for various offices of Home Department, Government of Gujarat across the state.

Net profit of GTPL Hathway rose 85.96% to Rs 14.84 crore on 23.24% rise in net sales to Rs 174.42 crore in Q1 June 2017 over Q1 June 2016.

GTPL Hathway is a leading regional multi system operator (MSO) in India, offers cable television and broadband services.

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