Rolta India extends Wednesday's gains

Meanwhile, the S&P BSE Sensex was up 293.84 points or 1.52% at 19,587.96.

On BSE, 20,000 shares were traded in the counter as against average daily volume of 1.91 lakh shares in the past two weeks.

The stock hit a high of Rs 62.80 and a low of Rs 61.45 so far during the day.

Shares of Rolta India have risen 7.52% in two trading sessions from a recent low of Rs 57.80 on 9 July 2013, after the company during trading hours on Wednesday, 10 July 2013 said it has secured a multi-million dollar contract from Sadara Chemical Company (Sadara) to implement a comprehensive engineering system at its complex which will be the world's largest petrochemical facility ever built in a single phase. The stock had risen 4.75% to settle at Rs 60.55 on Wednesday, 10 July 2013.

Rolta said it was selected for this challenging project based upon its unique combination of world class capabilities in engineering and IT. The project will be managed by a global Rolta team working out of the United States, India and Saudi Arabia, and will be completed by late 2014, the company said.

Sadara represents a unique alliance between the Saudi Arabian Oil Company (Saudi Aramco), one of the leading energy suppliers to the world, and The Dow Chemical Company (Dow), a leading science and technology company of the world. With a total investment of about $20 billion, Sadara is now building and will own and operate an integrated chemical complex in Jubail Industrail City II in the Kingdom of Saudi Arabia.

Rolta India's consolidated net profit rose 3.9% to Rs 73.14 crore on 8.25% growth in net sales to Rs 569.96 crore in Q3 March 2013 over Q2 December 2012.

Rolta India provides IT solutions for many vertical segments, including federal and state governments, defense/HLS, utilities, process, power, financial services, manufacturing, retail and healthcare.

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