Sical Logistics rose 2.33% to Rs 222.10 at 10:47 IST on BSE, with the stock extending gains triggered by the company securing contract from West Bengal Power Distribution Corporation.
Meanwhile, the S&P BSE Sensex was down 17.50 points or 0.06% at 27,912.71.
On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 25,837 shares in the past one quarter. The stock hit a high of Rs 256 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 220.50 so far during the day. The stock had hit a 52-week low of Rs 119 on 12 February 2016. The stock had outperformed the market over the past one month till 30 October 2016, advancing 26.89% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 38.6% as against Sensex's 0.43% fall.
The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.
Shares of Sical Logistics have surged 6.75% in two trading sessions from its close of Rs 208.05 on 28 October 2016 after the company announced that it has been selected as the mine developer and operator for development and operation of Tara (East & West) coal mine of the West Bengal Power Development Corporation through a tender process. The stock had surged 4.32% to settle at Rs 217.05 on 30 October 2016. The stock market was closed yesterday, 31 October 2016 for a holiday.
As per the requirement of the tender, a separate special purpose vehicle (SPV) being 100% subsidiary of the company viz. Sical Mining has been incorporated, Sical Logistics said. This business is expected to generate a revenue in excess of Rs 1500 crore during project period estimated to be around 7 years.
On a consolidated basis, Sical Logistics' net profit rose 153.8% to Rs 7.03 crore on 42.1% growth in net sales to Rs 213.96 crore in Q1 June 2016 over Q1 June 2015.
Sical Logistics is integrated logistics solutions provider with over 5 decades of experience in providing end to end logistics solutions.
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