Hind Rectifiers gains after winning orders

Hind Rectifiers jumped 3.12% to Rs 36.35 at 10:26 IST on BSE after the company said it received two orders worth Rs 26.56 crore from Indian Railways.

The company made the announcement after market hours on Wednesday, 18 September 2013.

Meanwhile, the BSE Sensex was up 524.35 points, or 2.63%, to 20,486.51.

On BSE, 2,582 shares were traded in the counter compared with average volume of 3,023 shares in the past one quarter.

The stock hit a high of Rs 37.85 and a low of Rs 36 so far during the day. The stock hit a 52-week low of Rs 35 on Wednesday, 18 September 2013. The stock hit a 52-week high of Rs 70 on 22 February 2013.

The stock had underperformed the market over the past one month till 18 September 2013, sliding 6.87% compared with the Sensex's 7.33% rise. The scrip had also underperformed the market in past one quarter, falling 24.52% as against Sensex's 3.84% rise.

The small-cap company has an equity capital of Rs 3.01 crore. Face value per share is Rs 2.

Hind Rectifiers said the orders are a milestone for the company as each of them mark the placing of complete order by Indian Railways on a single vendor, the company said.

Hind Rectifiers reported net loss of Rs 3.77 crore in Q1 June 2013 as against net profit of Rs 0.55 crore in Q1 June 2012. Net sales declined 59.80% to Rs 8.94 crore in Q1 June 2013 over Q1 June 2012.

Hind Rectifiers is engaged in developing, designing, manufacturing and marketing semiconductor, electronic equipments and railway transportation equipments.

Powered by Capital Market - Live News