Shriram EPC jumps after deferment of rights issue

Shriram EPC jumped 6.56% to Rs 34.10 at 14:55 IST on BSE after the company said its board has decided to defer the proposed rights issue to a later date.

The announcement was made after market hours on Tuesday, 15 July 2014.

Meanwhile, the S&P BSE Sensex was up 241.58 points or 0.96% at 25,470.23.

On BSE, so far 8,715 shares were traded in the counter as against average daily volume of 23,326 shares in the past one quarter.

The stock hit a high of Rs 34.50 and a low of Rs 33 so far during the day. The stock hit a 52-week high of Rs 50 on 12 August 2013. The stock hit a record low of Rs 24.80 on 3 March 2014.

The stock had underperformed the market over the past one month till 15 July 2014, sliding 3.03% compared with the Sensex being flat in the same period. The scrip had also underperformed the market in past one quarter, declining 13.51% as against Sensex's 12.20% rise.

The small-cap company has equity capital of Rs 44.36 crore. Face value per share is Rs 10.

Shriram EPC reported a net loss of Rs 385.43 crore in the quarter ended 31 March 2014, higher than net loss of Rs 6.65 crore in the quarter ended 31 March 2013. Net sales declined 56.5% to Rs 135.36 crore in the quarter ended 31 March 2014 over the quarter ended 31 March 2013.

Shriram EPC offers design, engineering, procurement, construction and project management services for power plants.

Powered by Capital Market - Live News