Lanco Infratech jumps over 14% in four sessions

Lanco Infratech rose 1.56% to Rs 7.80 at 15:04 IST on BSE, with the stock extending recent steep rally triggered by the company's board securing the lenders' nod for corporate debt restructuring.

Meanwhile, the BSE Sensex was down 60.41 points, or 0.29%, to 21,133.17.

On BSE, so far 19.27 lakh shares were traded in the counter, compared with an average volume of 11.74 lakh shares in the past one quarter.

The stock hit a high of Rs 8 and a low of Rs 7.70 so far during the day. The stock hit a 52-week high of Rs 15.22 on 9 January 2013. The stock hit a 52-week low of Rs 4.96 on 31 July 2013.

The stock had outperformed the market over the past one month till 27 December 2013, rising 34.50% compared with the Sensex's 3.79% rise. The scrip had also outperformed the market in past one quarter, gaining 37.39% as against Sensex's 7.43% rise.

The small-cap company has equity capital of Rs 240.78 crore. Face value per share is Re 1.

Shares of Lanco Infratech have rallied 14.20% in four trading sessions from Rs 6.83 on 23 December 2013 after the company after market hours on Monday, 23 December 2013, said that its board accepted the Letter of Approval (LOA) dated 20 December 2013, issued by Corporate Debt Restructuring Empowered Group (CDR EG) approving the Corporate Debt Restructuring proposal submitted by the company. The CDR EG approved the CDR proposal at its meeting held on 11 December 2013. Lanco Infratech's board of directors has passed necessary resolutions for the implementation of the approved CDR scheme.

Lanco Infratech reported a consolidated net loss of Rs 576.40 crore in Q2 September 2013, higher than net loss of Rs 135.93 crore in Q2 September 2012. Net sales declined 22.5% to Rs 2451.90 crore in Q2 September 2013 over Q2 September 2012.

Lanco Infratech is one of India's largest integrated infrastructure developers. The company operates in five core sectors viz. EPC, power, natural resources, solar and infrastructure.

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