Simplex Castings hits the roof after new order win

Simplex Castings was locked in 20% upper circuit at Rs 61.95 at 11:55 IST on BSE, after the company received an order from Diesel Locomotive Works worth Rs 54 crore.

The announcement was made after market hours yesterday, 19 November 2015.

Meanwhile, the BSE Sensex was up 183.59 points, or 0.71% at 26,025.51

On BSE, so far 63,000 shares were traded in the counter as against an average daily volume of 3,657 shares in the past one quarter.

The stock hit a high of Rs 61.95 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 55.10 so far during the day. The stock had hit a 52-week low of Rs 31.10 on 12 February 2015.

The small-cap stock had underperformed the market over the past one month till 19 November 2015, sliding 12.46% compared with Sensex's 5.57% decline. The scrip, however, outperformed the market in past one quarter, gaining 3.51% as against Sensex's 7.48% fall.

The company has an equity capital of Rs 5.98 crore. Face value per share is Rs 10.

Simplex Castings said that the company has received an order from Diesel Locomotive Works (DLW), owned by Indian Railways worth of Rs 54 crore approximately which will execute by the company in next three quarters. This order will be add-on to performance of the company in current financial year, Simplex Castings said. The order is approximately 31% of total turnover of the company in previous financial year ended 31 March 2015.

Simplex Castings' net profit rose 12.5% to Rs 0.18 crore on 20.1% increase in net sales to Rs 55.14 crore in Q2 September 2015 over Q2 September 2014.

Simplex Castings manufactures engineering products, castings and equipments.

Powered by Capital Market - Live News