Patels Airtemp jumps after bagging export order

Patels Airtemp (India) rose 12.96% to Rs 173.50 at 9:25 IST on BSE after the company said it bagged an export order worth Rs 56 crore to supply air cooled heat exchangers to Venezuela in South America.

The announcement was made after market hours yesterday, 2 December 2014

Meanwhile, the BSE Sensex was down 38.05 points, or 0.13%, to 28,405.96.

On BSE, so far 50,000 shares were traded in the counter, compared with an average volume of 42,724 shares in the past one quarter.

The stock hit a high of Rs 174.40 and a low of Rs 166 so far during the day. The stock hit a record high of Rs 177.40 on 10 November 2014. The stock hit a 52-week low of Rs 40.25 on 12 December 2013.

The stock had outperformed the market over the past one month till 2 December 2014, rising 4.99% compared with 2.07% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 48.19% as against Sensex's 5.27% rise.

The small-cap company has an equity capital of Rs 5.07 crore. Face value per share is Rs 10.

Net profit of Patels Airtemp (India) rose 20% to Rs 1.56 crore on 17.17% rise in net sales to Rs 21.84 crore in Q2 September 2014 over Q2 September 2013.

Patels Airtemp is one of the leading manufacturers of high quality engineering products. It manufactures & exports shell and tube heat exchange, air cooled heat exchangers, columns, refrigeration & air conditioning equipments, window air conditioners, split air conditioners, ductable split air conditioners, air-cooled packaged air conditioner.

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