Rolta India jumps after winning big contract from power utility company in UK

Rolta India jumped 12.96% to Rs 86.70 at 12:55 IST on BSE after the company won multi-year multi-million pound geographical information system contract from UK Power Networks.

The announcement was made during market hours today, 3 May 2016.

Meanwhile, the BSE Sensex was up 132.92 points, or 0.52%, to 25,569.89.

Surge in volumes was witnessed on the counter. On BSE, so far 13.22 lakh shares were traded in the counter, compared with an average volume of 1.2 lakh shares in the past one quarter. The stock hit a high of Rs 88.60 and a low of Rs 76,60 so far during the day. The stock hit a 52-week high of Rs 131 on 6 August 2015. The stock hit a 52-week low of Rs 66.90 on 25 February 2016. The stock had underperformed the market over the past one month till 2 May 2016, falling 0.32% compared with 0.66% gains in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 8.25% as against Sensex's 3.66% gains.

The mid-cap company has an equity capital of Rs 162.77 crore. Face value per share is Rs 10.

Rolta India said that it has been awarded a new contract by UK Power Networks, a major utility company that delivers electricity to London, the South East and the East of England. The 7 year, multi-million pound contract was established to manage and update their spatially-enabled network asset information.

On a consolidated basis, Rolta India's net profit rose 10.77% to Rs 46.87 crore on 0.91% fall in net sales to Rs 980.56 crore in Q3 December 2015 over Q2 September 2015.

Rolta India is a leading provider of innovative IT solutions for many vertical segments, including federal and state governments, defense, homeland security, utilities, oil & gas, financial services, manufacturing, retail, and healthcare.

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