IMP Powers spurts after license agreement with German company

IMP Powers hit an upper circuit limit of 5% at Rs 125.25 at 11:13 IST on BSE after the company entered into a license agreement for 20 years with a German firm.

The announcement was made after market hours yesterday, 15 January 2018.

Meanwhile, the S&P BSE Sensex was down 12.27 points, or 0.04% to 34,831.24.

On the BSE, 1,061 shares were traded in the counter so far, compared with average daily volumes of 3,707 shares in the past two weeks. The stock opened with an upward gap of 5% at Rs 125.25 and remained stuck at that level so far. The stock hit a 52-week high of Rs 130.25 on 27 December 2017. The stock hit a 52-week low of Rs 71.80 on 23 August 2017.

IMP Powers said it entered into a license agreement for 20 years with Germany's Smart Hydro Power GmbH, establishing an exclusive right for manufacturing turbines under its own brand name in the license territory i.e. India, Laos, Nepal, Bhutan, Sri Lanka, Eastern Africa. Smart Hydro Power has chosen to give the exclusive rights of its proprietary products and technologies to IMP Powers.

On a consolidated basis, net profit of IMP Powers rose 3572.73% to Rs 4.04 crore on 40.41% rise in net sales to Rs 105.95 crore in Q2 September 2017 over Q2 September 2016.

IMP Powers is engaged in manufacturing power transformers up to 315 megavolt ampere (MVA) in 400 kilovolt (kV) class.

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