Large order boosts Ricoh India

Ricoh India rose 4.91% to Rs 330.25 at 13:07 IST on BSE after the company said it has secured an order worth Rs 1370 crore from Department of Posts, Government of India.

The announcement was made during market hours today, 25 November 2014.

Meanwhile, the S&P BSE Sensex was down 111.13 points or 0.39% at 28,388.41.

On BSE, so far 3.51 lakh shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter.

The stock was volatile. The stock surged as much as 10.86% at the day's high of Rs 349 so far during the day, which is a record high for the counter. The stock lost as much as 0.41% at the day's low of Rs 313.50 so far during the day. The stock had hit a 52-week low of Rs 112.05 on 20 June 2014.

Ricoh India said it has received an order worth Rs 1370 crore from Department of Posts, Government of India towards 5 (Five) Year Project of Rural Information and Communication Technology (ICT) of Department of Posts, Government of India.

Ricoh India reported a net loss of Rs 2.83 crore in Q2 September 2014, compared with net profit of Rs 0.03 crore in Q2 September 2013. Net sales rose 26.2% to Rs 373.83 crore in Q2 September 2014 over Q2 September 2013.

Ricoh India is a subsidiary of Japan's Ricoh Co. Ricoh India manufactures imaging products. Its product line consists of photo copiers, photo copying apparatus, facsimile machine, electronic white board, duplicating machine, stencil cutters, duplicator stencils, duplicating paper and rotary ink.

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