KSK Energy recovers on bargain hunting

KSK Energy Ventures was locked at 5% upper circuit at Rs 9.36 at 11:58 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 118.74 points or 0.4% at 29,450.90. The BSE Small-Cap index was up 90.81 points or 0.65% at 14,118.75.

On the BSE, 29 lakh shares were traded on the counter so far as against the average daily volumes of 1.25 lakh shares in the past one quarter. The stock had hit a high of Rs 9.36 so far during the day. It hit a low of Rs 8.81 so far during the day, which is a record low.

The stock had hit a 52-week high of Rs 37.70 on 6 April 2016. The stock had underperformed the market over the past one month till 23 March 2017, sliding 33.93% compared with the Sensex's 1.52% rise. The scrip had also underperformed the market over the past one quarter, declining 44.6% as against the Sensex's 12.64% rise.

The small-cap company has equity capital of Rs 423.99 crore. Face value per share is Rs 10.

Shares of KSK Energy Ventures had declined 13.56% in the preceding four trading sessions to settle at Rs 8.92 on 23 March 2017, from its close of Rs 10.32 on 17 March 2017.

On a consolidated basis, KSK Energy Ventures' net profit rose 24.9% to Rs 168.95 crore on 47.3% decline in net sales to Rs 716.26 crore in Q3 December 2016 over Q3 December 2015.

KSK Energy Ventures is a power project development company. The company is engaged in the development, ownership, operation and maintenance of power generation assets in India. The company operates through two segments: power generation and project development.

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