New order win boosts Bharat Wire Ropes

Bharat Wire Ropes rose 4.36% to Rs 90.95 at 11:45 IST on BSE after the company said that it has booked approximately Rs 37 crore exports and domestic orders to be executed mainly from new facility set up at Chalisgaon, Maharashtra.

The announcement was made during market hours today, 8 June 2017.

Meanwhile, the S&P BSE Sensex was down 33.54 points or 0.11% at 31,237.74. The S&P BSE Small-Cap index was up 37.33 points or 0.24% at 15,463.19.

On the BSE, 84,000 shares were traded on the counter so far as against the average daily volumes of 3.88 lakh shares in the past one quarter. The stock had hit a high of Rs 91.95 and a low of Rs 87.55 so far during the day. It had hit a record high of Rs 120.50 on 30 January 2017 and a record low of Rs 38.20 on 29 Septemer 2016.

The stock had underperformed the market over the past one month till 7 June 2017, falling 17.24% compared with 4.47% rise in the Sensex. The scrip also underperformed the market in past one quarter, sliding 5.68% as against Sensex's 8.10% rise. The scrip had also outperformed the market in past one year, surging 98.29% as against Sensex's 15.73% rise.

The small-cap company has equity capital of Rs 44.95 crore. Face value per share is Rs 10.

Bharat Wire Ropes' net profit rose 14.58% to Rs 0.55 crore on 61.62% rise in net sales to Rs 20.30 crore in Q4 March 2017 over Q4 March 2016.

Bharat Wire Ropes is engaged in manufacturing of wire ropes and slings for use in a varied list of application/industries such as general engineering, fishing, elevators, cranes, material handling, onshore/offshore oil exploration, ports and shipping and mining.

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