Power Mech Projects extends gains

Power Mech Projects advanced 2.53% to Rs 888 at 14:48 IST on BSE, with the stock extending recent gains, shrugging off a weakness in broader market.

Meanwhile, the S&P BSE Sensex was up 85.16 points or 0.25% at 33,859.82. The S&P BSE Small-Cap index rose 0.22%, underperforming the Sensex.

On the BSE, 1,587 shares were traded on the counter so far as against average daily volumes of 7,239 shares in the past one quarter. The stock had hit a high of Rs 894 and a low of Rs 875.45 so far during the day. The stock had hit a record high of Rs 930 on 15 January 2018 and a record low of Rs 389.95 on 10 March 2017.

The stock had outperformed the market over the past one month till 19 February 2018, sliding 0.43% compared with the Sensex's 4.89% fall. The stock had also outperformed the market over the past one quarter, advancing 17.01% as against the Sensex's 1.3% rise. The scrip had also outperformed the market over the past one year, surging 93.17% as against the Sensex's 18.64% rise.

The small-cap company has equity capital of Rs 14.71 crore. Face value per share is Rs 10.

Shares of Power Mech Projects have surged 9.16% in six trading sessions to its ruling market price, from its closing of Rs 813.45 on 9 February 2018.

Power Mech Projects has scheduled a conference call for the analysts and investors on Wednesday, 21 February 2018, to discuss on the financial and operational performance of the company for Q3 of FY 2018.

On a consolidated basis, Power Mech Projects' net profit rose 43.9% to Rs 20.24 crore on 12.9% growth in net sales to Rs 354.67 crore in Q3 December 2017 over Q3 December 2016.

Power Mech Projects is an engineering and construction company providing versatile and comprehensive service in power and infrastructure industries.

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