Simplex Infrastructures spurts as promoters hike stake

Simplex Infrastructures was locked at 10% upper circuit at Rs 71.80 at 15:10 IST on BSE after the company said that its promoters acquired in aggregate 3.61 lakh equity shares of the company between 2 September and 12 September 2013.

The announcement was made during trading hours today, 13 September 2013.

Meanwhile, the S&P BSE Sensex was down 18.61 points or 0.09% at 19,763.27.

On BSE, 38,000 shares were traded in the counter as against average daily volume of 5,300 shares in the past one quarter.

The stock hit a low of Rs 68.85 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 12 September 2013, surging 27.66% compared with the Sensex's 4.41% rise. The scrip had, however, underperformed the market in past one quarter, declining 31.05% as against Sensex's 3.89% rise.

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

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.

Shares of Simplex Infrastructures witnessed a steep rally recently. The stock had spurted 62.64% in three trading sessions to settle at Rs 65.30 on Thursday, 12 September 2013, from Rs 40.15 on 6 September 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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