Infotech Enterprises retracts from record high

Infotech Enterprises lost 0.01% to Rs 333.75 at 14:45 IST on BSE after a block deal of 5.5 lakh shares was executed in the counter on BSE at Rs 327 per share at 9:15 IST.

The block deal constitutes 0.49% of Infotech Enterprises' equity.

Meanwhile, the S&P BSE Sensex was down 42.17 points or 0.2% at 21,058.86.

On BSE, so far 5.79 lakh shares were traded in the counter as against average daily volume of 31,592 shares in the past one quarter.

The stock was volatile. The stock rose as much as 4.43% at the day's high of Rs 348.60 so far during the day, which is a record high for the counter. The stock lost as much as 2.03% at the day's low of Rs 327 so far during the day. The stock had hit a 52-week low of Rs 157 on 16 May 2013.

The stock had outperformed the market over the past one month till 23 December 2013, surging 16.69% compared with the Sensex's 4.37% rise. The scrip had also outperformed the market in past one quarter, galloping 81.41% as against Sensex's 6.03% gain.

The mid-cap company has equity capital of Rs 55.95 crore. Face value per share is Rs 5.

Infotech Enterprises' consolidated net profit rose 33.4% to Rs 72.47 crore on 13.5% growth in net sales to Rs 549.30 crore in Q2 September 2013 over Q1 June 2013.

Infotech Enterprises provides engineering solutions, including product development and life-cycle support, process, network and content engineering to major organizations worldwide.

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