Nitin Fire Protection surges after winning new order

Nitin Fire Protection Industries rose 3.8% to Rs 39.60 at 13:56 IST on BSE after the company said it has secured a contract worth Rs 61 crore for providing specialized protection for an upcoming project at UAE.

The announcement was made during market hours today, 20 February 2015.

Meanwhile, the S&P BSE Sensex was down 107.10 points or 0.36% at 29,355.17.

On BSE, so far 1.44 lakh shares were traded in the counter as against average daily volume of 1.59 lakh shares in the past one quarter.

The stock hit a high of Rs 40.60 and a low of Rs 37.75 so far during the day. The stock had hit a record high of Rs 66.75 on 3 July 2014. The stock had hit a 52-week low of Rs 30.15 on 2 December 2014.

The stock had underperformed the market over the past one month till 19 February 2015, advancing 3.53% compared with Sensex's 4.25% rise. The scrip had also underperformed the market in past one quarter, sliding 0.65% as against Sensex's 5.1% rise.

The small-cap company has equity capital of Rs 58.45 crore. Face value per share is Rs 2.

Nitin Fire Protection Industries said that the company is providing its latest system for the project in UAE. The product used here is going to be Inertech approved by loss prevention control board (LPCB) UK, an internationally recognized mark of trust, Nitin Fire Protection said in a statement.

On consolidated basis, Nitin Fire Protection Industries' net profit surged 394.4% to Rs 21.21 crore on 468.5% growth in net sales to Rs 400.16 crore in Q3 December 2014 over Q3 December 2013.

Nitin Fire Protection Industries makes fire protection and intelligent building management systems. The company provides end-to-end solutions for fire protection, comprising manufacturing, designing, engineering, commissioning and maintenance.

Powered by Capital Market - Live News