Jyoti Structures gains after allotment of shares via QIP

Jyoti Structures rose 2.23% to Rs 41.20 at 10:15 IST on BSE after the company said it has allotted 2.33 crore equity shares at an issue price of Rs 42.85 per share, aggregating Rs 100.21 crore to eligible qualified institutional buyers.

The announcement was made after market hours on Friday, 26 September 2014.

Meanwhile, the S&P BSE Sensex was up 60.89 points or 0.23% at 26,687.21.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 3.66 lakh shares in the past one quarter.

The stock hit a high of Rs 41.70 and a low of Rs 40.40 so far during the day. The stock had hit a 52-week high of Rs 69.80 on 7 July 2014. The stock had hit a 52-week low of Rs 19 on 7 October 2013.

The stock had underperformed the market over the past one month till 26 September 2014, declining 5.73% compared with Sensex's 0.69% rise. The scrip had also underperformed the market in past one quarter, sliding 27.39% as against Sensex's 6.24% rise.

The small-cap company has equity capital of Rs 16.46 crore. Face value per share is Rs 2.

Jyoti Structures reported a net loss of Rs 15.97 crore in Q1 June 2014 as against net profit of Rs 16.34 crore in Q1 June 2013. Net sales declined 3% to Rs 688.94 crore in Q1 June 2014 over Q1 June 2013.

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