Jyoti Structures bucks trend after winning orders

The announcement was made during trading hours today, 8 July 2013.

Meanwhile, the S&P BSE Sensex was down 186.79 points, or 0.96%, to 19,309.03.

On BSE, 2.38 lakh shares were traded in the counter as against an average daily volume of 64,413 shares in the past one quarter.

The stock hit a high of Rs 22.70 and a low of Rs 20.20 so far during the day. The stock had hit a 52-week high of Rs 53.15 on 5 October 2012. The stock had hit a 52-week low of Rs 19.60 on 27 June 2013.

The stock had underperformed the market over the past one month till 5 July 2013, sliding 23.65% compared with the Sensex's 0.37% fall. The scrip had also underperformed the market in past one quarter, falling 35.13% as against Sensex's 5.67% rise.

The small-cap company has an equity capital of Rs 16.45 crore. Face value per share is Rs 2.

Jyoti Structures said it has recently secured export orders from several countries including Kenya, Tanzania, Namibia, Nigeria, Philippines and Tajikistan. The orders, which are worth Rs 1200 crore, pertain to engineering, tower testing and turnkey construction of transmission lines and sub stations. The orders include manufacture and supply of 36,000 MT of towers, the company said in a statement.

With manufacturing and construction bases in strategic locations in India and abroad, Jyoti said it is poised to benefit from the demand upturn for power transmission and distribution networks.

Net profit of Jyoti Structures declined 29.30% to Rs 22.20 crore on 27.45% rise in net sales to Rs 937.39 crore in Q4 March 2013 over Q4 March 2012.

Jyoti Structures undertakes turnkey/engineering, procurement and construction (EPC) projects in the field of power transmission. Its main business focus areas are transmission lines, substations and distribution projects.

Powered by Capital Market - Live News