IL&FS Engineering surges after reporting stellar Q4 numbers

IL&FS Engineering and Construction Company jumped 6.42% to Rs 53.85 at 12:18 IST on BSE after net profit spurted 352.4% to Rs 148.69 crore on 12.6% increase in net sales to Rs 663.34 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 29 May 2017.

Meanwhile, the S&P BSE Sensex was up 49.48 points, or 0.16% at 31,158.76. The S&P BSE Small-Cap index was up 6.70 points, or 0.05% at 14,861.83.

High volumes were witnessed on the counter. On the BSE, 1.39 lakh shares were traded on the counter so far as against the average daily volumes of 22,697 shares in the past one quarter. The stock had hit a high of Rs 57.50 and hit a low of Rs 53.70 so far during the day.

The stock had hit a 52-week high of Rs 66 on 9 September 2016 and hit a 52-week low of Rs 36.80 on 22 November 2016. The stock had underperformed the market over the past one month till 29 May 2017, declining 10.36% compared with the Sensex's 3.98% rise. The scrip had also underperformed the market over the past one quarter declining 18.58% as against the Sensex's 8.23% rise.

The small-cap company has equity capital of Rs 131.12 crore. Face value per share is Rs 10.

IL&FS Engineering and Construction Company's board approved issuance of non- convertible debentures for an amount upto Rs 300 crore, in one or more tranches, on a private placement basis.

The company's board approved issuance of commercial papers for an amount upto Rs 200 crore in one or more tranches.

IL&FS Engineering and Construction Company is one of the leading infrastructure development, construction and project management companies in India.

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