Shilpi Cable advances on plans to consider warrants issue

Shilpi Cable Technologies rose 2.81% to Rs 64.05 at 10:55 IST on BSE after the company said that a company's board meet will be held today, 9 January 2015, to consider and approve the issue of warrants on preferential basis.

The company made announcement after market hours yesterday, 8 January 2015.

Meanwhile, the BSE Sensex was up 176.81 points, or 0.65%, to 27,451.52.

On BSE, so far 1.13 lakh shares were traded in the counter, compared with an average volume of 77,065 shares in the past one quarter.

The stock hit a high of Rs 65.70 and a low of Rs 63 so far during the day. The stock hit a record high of Rs 78.50 on 8 October 2014. The stock hit a 52-week low of Rs 9.25 on 25 March 2014.

The stock had outperformed the market over the past one month till 8 January 2015, surging 36.32% compared with 3% fall in the Sensex. The scrip had however underperformed the market in past one quarter, declining 13.95% as against Sensex's 3.92% rise.

The small-cap stock has an equity capital of Rs 98.63 crore. Face value per share is Rs 10.

Shilpi Cable Technologies' consolidated net profit rose 103.4% to Rs 40.16 crore on 115.7% rise in total income to Rs 747.27 crore in Q2 September 2014 over Q2 September 2013.

Shilpi Cable Technologies is a separate wing of three decades old Shilpi Group. Starting with a project to manufacture RF cables, Shilpi Cables has become a specialist across the varieties of cables widely used in telecom, automotive and energy segment.

Powered by Capital Market - Live News