Jyoti Structures jumps on bargain hunting

Jyoti Structures rose 4.63% to Rs 31.65 at 15:30 IST on BSE on bargain hunting after the stock slumped 23.22% in the preceding seventeen trading sessions.

Meanwhile, the BSE Sensex was up 178.35 points, or 0.63%, to 28,533.97.

On BSE, so far 1.15 lakh shares were traded in the counter, compared with an average volume of 1.39 lakh shares in the past one quarter.

The stock hit a high of Rs 31.70 and a low of Rs 30.50 so far during the day. The stock hit a 52-week high of Rs 69.80 on 7 July 2014. The stock hit a 52-week low of Rs 25.65 on 17 February 2014.

Shares of Jyoti Structures slumped 23.22% in the preceding seventeen trading sessions to Rs 30.25 on 10 February 2015, from a recent high of Rs 39.40 on 15 January 2015.

The stock had underperformed the market over the past one month till 10 February 2015, falling 23.13% compared with 3.27% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 34.88% as against Sensex's 1.73% rise.

The small-cap company has an equity capital of Rs 21.91 crore. Face value per share is Rs 2.

Jyoti Structures reported net loss of Rs 93.70 crore in Q3 December 2014 compared with net profit of Rs 13.88 crore in Q3 December 2013. Total income fell 8.4% to Rs 612.17 crore in Q3 December 2014 over Q3 December 2013.

The result was announced after market hours on Monday, 9 February 2015. Shares of Jyoti Structures fell 5.76% to Rs 30.25 on Tuesday, 10 February 2015.

Jyoti Structures is in turnkey/EPC projects in the field of power transmission. The company's main business focus areas are transmission lines, substations and distribution projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in design, testing, manufacturing, sourcing, supply and construction with its in-house expertise.

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