OM Metals Infraprojects surges after winning order

OM Metals Infraprojects surged 5.45% to Rs 46.45 at 11:00 IST on BSE after the company announced that Food Corporation of India has issued letter of award to the company.

The announcement was made on Saturday, 10 December 2016.

Meanwhile, the S&P BSE Sensex was down 164.59 points or 0.62% at 26,582.59.

On the BSE, 32,771 shares were traded in the counter so far as against average daily volume of 26,504 shares in the past one quarter. The stock had hit a high of Rs 49.40 and a low of Rs 44.60 so far during the day. The stock had hit a 52-week high of Rs 63.70 on 12 January 2016. The stock had hit a 52-week low of Rs 35.70 on 26 February 2016.

The stock had outperformed the market over the past one month till 9 December 2016, falling 0.68% compared with the Sensex's 1.85% fall. The scrip had, however, underperformed the market in past one quarter, declining 7.36% as against the Sensex's 7.12% fall.

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

OM Metals Infraprojects announced that Food Corporation of India (FCI) has issued letter of award (LOA) to the company allowing concession for a period of 30 years at four locations; Bhagalpur, Bihar; Fatehpur, UP; Malda, West Bengal and near Siddhpur, Gujarat.

The concession is for development/construction of silos of 50,000 metric tons capacity at each location on design, build, finance, operate and own (DBFOO) basis for storage of wheat on fixed charge basis to the concessionaire.

Om Metals Infraprojects' net profit fell 41.9% to Rs 5.15 crore on 101% rise in net sales to Rs 62.07 crore in Q2 September 2016 over Q2 September 2015.

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, leasing, finance, entertainment centers, hotels and tourism.

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