KSB Pumps heads higher after receiving orders

KSB Pumps gained 3.32% to Rs 900 at 9:40 IST on BSE after the company said that it has received orders of around Rs 413 crore from Nuclear Power Corporation of India (NPCIL).

The announcement was made before market hours today, 29 January 2018.

Meanwhile, the S&P BSE Sensex was up 268.21 points or 0.74% at 36,318.65. The S&P BSE Mid-Cap index rose 30.71 points or 0.17% at 17,871.90, underperforming the Sensex.

On the BSE, 412 shares were traded on the counter so far as against the average daily volumes of 3,306 shares in the past one quarter. The stock had hit a high of Rs 920 and a low of Rs 891.35 so far during the day. The stock had hit a record high of Rs 936 on 16 January 2018 and a 52-week low of Rs 600 on 20 March 2017.

The stock had underperformed the market over the past one month till 25 January 2018, declining 2.33% compared with 6.22% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 6.95% as against Sensex's 9.1% rise. The scrip had, however, outperformed the market in past one year, gaining 37.59% as against Sensex's 30.11% rise.

The mid-cap company has equity capital of Rs 34.81 crore. Face value per share is Rs 10.

KSB Pumps said that the order is for supply of primary coolant pumps and electric motor along with auxiliaries and accessories for NPCIL's Gorakhpur Haryana Anu Vidyut Pariyojana-1 & 2 project. The supply of products/services for these orders will be in a phased manner during the years 2022 and 2023.

KSB Pumps' net profit rose 33.9% to Rs 11.61 crore on 24.5% rise in net sales to Rs 200.47 crore in Q3 September 2017 over Q3 September 2016.

KSB Pumps manufactures pumps and valves. The company supplies its products to customers from industry and building services, original equipment manufacturers, the energy industry, mining and the public sector, power plants, process engineering etc.

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