Skipper hits 52-week high

Skipper jumped 6.16% to Rs 171.35 at 11:52 IST on BSE after the company said it has secured contracts worth around Rs 405 crore for supply of transmission towers.

The announcement was made during market hours today, 24 March 2017.

Meanwhile, the S&P Sensex was up 132.01 points or 0.45% at 29,464.17. The S&P BSE Small-cap index was up 95.12 points, or 0.68% at 14,123.06.

High volumes were witnessed on the counter. On the BSE, 1.24 lakh shares were traded on the counter so far as against the average daily volumes of 59,793 shares in the past one quarter. The stock had hit a high of Rs 177.90 so far during the day, which is also its 52-week high. The stock hit a low of Rs 156 so far during the day.

The stock had hit a 52-week low of Rs 125.25 on 15 November 2016. The stock had outperformed the market over the past one month till 23 March 2017, advancing 11.27% compared with the Sensex's 1.52% rise. The scrip had also outperformed the market over the past one quarter advancing 24.11% as against the Sensex's 12.64% rise.

The small-cap company has equity capital of Rs 10.23 crore. Face value per share is Rs 1.

Skipper said that it has secured contracts worth around Rs 405 crore for supply of transmission towers to the projects of Power Grid Corporation of India, Transmissions Corporation of Telengana and Power Transmission Corporation of Uttrakhand.

Skipper's net profit rose 19.5% to Rs 22.35 crore on 19% increase in net sales to Rs 430.15 crore in Q3 December 2016 over Q3 December 2015.

Skipper manufactures galvanized, polyvinyl chloride, solid, waste, and rain pipes, fittings, transmission and telecom towers, poles, scaffoldings, and hot rolled products.

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