Simplex Infrastructures extends Friday's rally

Simplex Infrastructures rose 1.25% to Rs 72.70 at 13:11 IST on BSE, with the stock extending Friday's rally triggered by an announcement from the company that the promoters had raised their stake in the company.

Meanwhile, the S&P BSE Sensex was down 92.36 points or 0.47% at 19,640.40.

On BSE, 43,000 shares were traded in the counter as against average daily volume of 5,884 shares in the past one quarter.

The stock surged as much as 9.95% at the day's high of Rs 78.95 so far during the day. The stock rose 0.27% at the day's low of Rs 72 so far during the day. The stock had hit a 52-week low of Rs 39 on 3 September 2013. The stock had hit a 52-week high of Rs 263.85 on 1 January 2013.

The stock had outperformed the market over the past one month till 13 September 2013, surging 31.99% compared with the Sensex's 2.62% rise. The scrip had, however, underperformed the market in past one quarter, declining 21.4% as against Sensex's 4.81% rise.

The small-cap construction company has equity capital of Rs 9.89 crore. Face value per share is Rs 2.

Shares of Simplex Infrastructures have surged 11.33% in two trading sessions from Rs 65.30 on 12 September 2013 after the company during trading hours on Friday, 13 September 2013, said that its promoters acquired in aggregate 3.61 lakh equity shares of the company between 2 September and 12 September 2013. The stock had surged by the maximum permissible level of 10% to settle at Rs 71.80 on Friday, 13 September 2013.

Simplex Infrastructures' promoters have acquired an additional 0.73% stake in the company between 2 September and 12 September 2013.

Simplex Infrastructures' promoters held 54.95% stake in the company as at 30 June 2013.

Simplex Infrastructures' net profit fell 36.4% to Rs 12.77 crore on 12% decline in net sales to Rs 1392.90 crore in Q1 June 2013 over Q1 June 2012.

Simplex Infrastructures is the largest pure play civil construction & engineering contractors in India.

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