Sical Logistics gains after winning contract

Sical Logistics rose 3.44% to Rs 224 at 10:22 IST on BSE after the company said it received a letter of award for a contract worth Rs 304.92 crore for excavation of overburden at Northern Coal Fields, Madhya Pradesh.

The announcement was made after market hours on Friday, 13 January 2017.

Meanwhile, the BSE Sensex was up 30.05 points, or 0.11%, to 27,268.11.

On the BSE, so far 21,000 shares were traded in the counter, compared with average daily volumes of 16,035 shares in the past one quarter. The stock had hit a high of Rs 234 and a low of Rs 222 so far during the day.

The stock hit a 52-week high of Rs 256 on 1 November 2016. The stock hit a 52-week low of Rs 119 on 12 February 2016. The stock had underperformed the market over the past 30 days till 13 January 2017, rising 2.48% compared with the 2.71% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.48% as against Sensex's 1.57% decline.

The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.

Sical Logistics said it received letter of award for excavation of overburden at Jhingurdah OCP of Northern Coal Fields at Madhya Pradesh. The contract has to be performed over a period of 4 years at a value of Rs 304.92 crore.

On a consolidated basis, net profit of Sical Logistics rose 113.94% to Rs 7.06 crore on 3.02% rise in net sales to Rs 198.12 crore in Q2 September 2016 over Q2 September 2015.

Sical Logistics is an integrated logistics solutions provider.

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