Petron Engg drops on profit booking

Petron Engineering Construction fell 3.53% to Rs 206.40 at 14:22 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 244.67 points, or 0.82% at 30,139.47. The S&P BSE Small-cap index was up 62.18 points, 0.4% at 15,493.14.

High volumes were witnessed on the counter. On the BSE, 44,000 shares were traded on the counter so far as against the average daily volumes of 14,801 shares in the past one quarter. The stock had hit a high of Rs 213.30 and a low of Rs 202.75 so far during the day.

The stock had hit a 52-week high of Rs 220 on 6 May 2016 and a 52-week low of Rs 122 on 21 November 2016. The stock had outperformed the market over the past one month till 3 May 2017, advancing 54.31% compared with the Sensex's 0.05% fall. The scrip had also outperformed the market over the past one quarter advancing 52.71% as against the Sensex's 5.86% rise.

The small-cap company has equity capital of Rs 7.54 crore. Face value per share is Rs 10.

Petron Engineering Construction had rallied 29.86% in the preceding two trading sessions to settle at Rs 213.95 yesterday, 3 May 2017, from its closing of Rs 164.75 on 28 April 2017.

Petron Engineering Construction reported net loss of Rs 1.83 crore in Q3 December 2016, as against net profit of Rs 1.70 crore in Q3 December 2015. Net sales fell 7.7% to Rs 94.60 crore in Q3 December 2016 over Q3 December 2015.

Petron Engineering Construction executes projects in diversified sectors like refineries (reformers and crackers), oil & gas, power, cement, fertilizer & petrochemical including specialized insulation & refractory work, fabrication work along with electrical & instrumentation work.

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