KNR Constructions spurts on stock-split plan

KNR Constructions rose 5.01% to Rs 761.60 at 9:56 IST on BSE after the company said that its board will meet on 30 September 2016, to consider 5-for-1 stock split.

The announcement was made after market hours on Friday, 23 September 2016.

Meanwhile, the BSE Sensex was down 129.19 points, or 0.45%, to 28,539.03.

On BSE, so far 2,289 shares were traded in the counter, compared with average daily volume of 15,959 shares in the past one quarter. The stock hit a high of Rs 765 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 738 so far during the day. The stock hit a 52-week low of Rs 408 on 12 February 2016. The stock had underperformed the market over the past 30 days till 23 September 2016, rising 2.58% compared with 2.99% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 34.32% as against Sensex's 8.60% rise.

The small-cap company has equity capital of Rs 28.12 crore. Face value per share is Rs 10.

KNR Constructions said that its board will meet on 30 September 2016, after the conclusion of the 21st annual general meeting of the company, to consider sub-division of the face value of the equity shares of Rs 10 per share to Rs 2 per share.

KNR Constructions' net profit jumped 86.6% to Rs 30.21 crore on 73.9% growth in net sales to Rs 303.64 crore in Q1 June 2016 over Q1 June 2015.

KNR Constructions is an infrastructure development company providing engineering, procurement and construction services.

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