McNally Bharat Engg zooms after turnaround in Q4

McNally Bharat Engineering Company surged 10.7% to Rs 41.90 at 14:28 IST on BSE after the company reported net profit of Rs 483.92 crore in Q4 March 2017, compared with net loss of Rs 78.05 crore in Q4 March 2016.

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was up 87.36 points, or 0.28% at 31,246.76. The S&P BSE Small-Cap index was up 167.81 points, or 1.12% at 15,091.85.

High volumes were witnessed on the counter. On the BSE, 1.20 lakh shares were traded on the counter so far as against the average daily volumes of 32,217 shares in the past one quarter. The stock had hit a high of Rs 44.55 and a low of Rs 38 so far during the day.

The stock had hit a 52-week high of Rs 79.40 on 16 June 2016 and hit a 52-week low of Rs 37.60 on 30 May 2017. The stock had underperformed the market over the past one month till 30 May 2017, declining 22.36% compared with the Sensex's 4.15% rise. The scrip had also underperformed the market over the past one quarter declining 34.4% as against the Sensex's 8.41% rise.

The small-cap company has equity capital of Rs 53.59 crore. Face value per share is Rs 10.

McNally Bharat Engineering Company's total income from operations fell 14.15% to Rs 654.83 crore in Q4 March 2017 over Q4 March 2016.

McNally Bharat Engineering Company is a engineering company engaged in providing turnkey solutions in the areas of power, steel, aluminium, material handling, mineral beneficiation, pyroprocessing, pneumatic handling of powdered materials including fly ash handling and high concentrate disposal, coal washing, port cranes, cement, oil & gas, civic and industrial water supply etc.

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