Skipper jumps after bagging new orders

Skipper rose 4.29% to Rs 164 at 9:33 IST on BSE after the company said it bagged new orders worth about Rs 100 crore in the countries of Kenya, Cameroon, Congo, Ghana and Malaysia as well as in the domestic market.

The announcement was made yesterday, 6 July 2016. India's stock market was shut yesterday, 6 July 2016, on account of Id-Ul-Fitr (Ramzan Id).

Meanwhile, the BSE Sensex was up 46.65 points, or 0.17%, to 27,213.52.

On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 27,061 shares in the past one quarter. The stock hit a high of Rs 165 and a low of Rs 162.65 so far during the day. The stock hit a 52-week high of Rs 219.90 on 6 January 2016. The stock hit a 52-week low of Rs 116 on 25 August 2015. The stock had outperformed the market over the past 30 days till 5 July 2016, rising 8.04% compared with 1.45% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 7.48% as against Sensex's 9.10% rise.

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

Skipper said that it has further expanded its international business by bagging new orders worth about Rs 100 crore in the countries of Kenya, Cameroon, Congo, Ghana & Malaysia as well as in the domestic market. These orders are for supply of transmission & sub-station towers, distribution poles and steel angles. The company has further received approval from Power Grid Corporation of India (PGCIL) for its poles division.

Net profit of Skipper rose 19.37% to Rs 36.12 crore on 4.66% rise in net sales to Rs 522.73 crore in Q4 March 2016 over Q4 March 2015.

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

Powered by Capital Market - Live News