Om Metals Infra spurts after Equity lntelligence lndia hikes stake

Om Metals Infraprojects surged 12.79% to Rs 76.70 at 11:34 IST on BSE after the company disclosed that Equity lntelligence lndia, Portfolio Management clients of Equity lntelligence lndia and EQ lndia Fund have increased stake in the company.

The company made this disclosure after market hours yesterday, 20 September 2017.

Meanwhile, the S&P BSE Sensex was down 131.81 points or 0.41% at 32,268.70. The S&P BSE Small-Cap index was down 148.20 points or 0.88% at 16,722.64.

High volumes were witnessed on the counter. On the BSE, 8.37 lakh shares were traded in the counter so far as against average daily volume of 89,109 shares in the past one quarter. The stock had hit a high of Rs 80.50 in intraday trade so far, which is also a 52-week high for the counter. The stock had hit a low of Rs 73.20 so far during the day. The stock had hit a 52-week low of Rs 38.30 on 22 March 2017.

The stock had outperformed the market over the past one month till 20 September 2017, rising 25.35% compared with 2.78% gain in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 38.07% as against Sensex's 3.52% rise. The scrip had also outperformed the market in past one year, surging 50.78% as against Sensex's 13.59% upmove.

The small-cap company has equity capital of Rs 9.63 crore. Face value per share is Re 1.

An ace investor, Porinju Veliyath is a founder and CEO of Equity lntelligence lndia. Equity lntelligence lndia, Portfolio Management clients of Equity lntelligence lndia and EQ lndia Fund raised stake in Om Metals Infraprojects from 3.81% to 5.27% by buying additional 1.46% stake in the company in open market purchases yesterday, 20 September 2017.

The stock had spurted 13.9% to Rs 68 yesterday, 20 September 2017.

Om Metals Infraprojects' net profit jumped 102.8% to Rs 10.93 crore on 106.8% surge in net sales to Rs 105.26 crore in Q1 June 2017 over Q1 June 2016.

Om Metals Infraprojects Is a conglomerate having diverse business activities and interests related to hydro mechanical equipments, turn-key solutions for steel fabrication, hydro power developments, real estate, entertainment centers and hotels.

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