Jyoti Structures spurts on new order win

Jyoti Structures jumped 8.56% to Rs 35.50 at 11:27 IST on BSE after the company bagged domestic and export orders worth Rs 582 crore for transmission lines.

The announcement was made after market hours on Monday, 16 February 2015. Stock markets remained closed yesterday, 17 February 2015, on account of Mahashivratri.

Meanwhile, the BSE Sensex was up 181.50 points, or 0.62%, to 29,317.38

On BSE, so far 2.23 lakh shares were traded in the counter, compared with an average volume of 1.20 lakh shares in the past one quarter.

The stock hit a high of Rs 37 and a low of Rs 35.15 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.

The stock had underperformed the market over the past one month till 16 February 2015, sliding 16.37% compared with Sensex's 3.61% rise. The scrip also underperformed the market in past one quarter, falling 21.39% as against Sensex's 3.88% rise.

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

Jyoti Structures said that Gulf Jyoti International LLC Dubai, a joint venture of the company and Gulf Investment Corporation of Kuwait have recently secured several export and domestic orders for transmission lines. The projects include Rs 310 crore order for 400 kv transmission line project in Sultanate of Oman, Rs 32 crore 400 kv transmission line project from DEWA (Dubai Electricity and Water Authority, Dubai and Rs 240 crore orders for various projects for fabrication and supply of transmission line steel structures, Jyoti Structures said.

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.

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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