OM Metals Infraprojects jumps on securing a contract

OM Metals Infraprojects jumped 4.86% to Rs 29.15 at 14:15 IST on BSE after the company said it has secured a contract of Rs 30.40 crore.

The company made the announcement during market hours today, 11 December 2014.

Meanwhile, the BSE Sensex was down 114.02 points, or 0.38%, to 27,724.30.

On BSE, so far 52,227 shares were traded in the counter, compared with an average volume of 31,584 shares in the past one quarter.

The stock hit a high of Rs 29.80 and low of Rs 27.15 so far during the day. The stock hit a 52-week high of Rs 37.10 on 7 July 2014. The stock hit a 52-week low of Rs 14.60 on 20 December 2013.

Shares of a small-cap conglomerate had outperformed the market over the past one month till 10 December 2014, rising 4.32% compared with 0.16% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 1.94% as against Sensex's 2.86% rise.

The contract is for the work of design, fabrication, supply, erection and commissioning of spillway gates operated by electrically operated rope drum hoist, hoist bridge including associated civil works required for erection of the gates in Khandong Dam of Kopili Hydro Electric Project (275 megawatts), Umrongso, Assam.

OM Metals Infraprojects' net profit jumped 120.7% to Rs 10.88 crore on 10.1% decline in total income to Rs 43.66 crore in Q2 September 2014 over Q2 September 2013.

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