Rishi Laser gains on plan to issue preferential shares

Rishi Laser rose 1.79% to Rs 14.80 at 13:54 IST on BSE after the company said that its board will meet on 14 April 2014 to consider preferential issue of shares.

The company made the announcement during trading hours today, 7 April 2014.

Meanwhile, the BSE Sensex was down 113.70 points, or 0.51%, to 22,245.80.

On BSE, so far 100 shares were traded in the counter, compared with an average volume of 5,551 shares in the past one quarter.

The stock hit a 52-week high of Rs 20.45 on 9 May 2013. The stock hit a 52-week low of Rs 10.50 on 17 September 2013.

The stock had outperformed the market over the past one month till 4 April 2014, rising 27.10% compared with the Sensex's 5.42% rise. The scrip had also outperformed the market in past one quarter, rising 7.62% as against Sensex's 7.23% rise.

The small-cap company has an equity capital of Rs 9.19 crore. Face value per share is Rs 10.

On a consolidated basis, Rishi Laser reported net loss of Rs 4.67 crore in Q3 December 2013, higher than net loss of Rs 2.10 crore in Q3 December 2012. Net sales fell 30% to Rs 27.45 crore in Q3 December 2013 over Q3 December 2012.

Rishi Laser is into precision metal fabrication. The company has manufacturing contracts for wide range of products such as switchgear chassis, enclosures for engineering machinery, critical components of earthmoving and textile machinery.

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