SPML Infra hits 52-week high

SPML Infra spurted 11.3% to Rs 89.60 at 13:08 IST on BSE after the company said its board of directors will meet on 5 December 2014, to consider the performance of the company, fund requirements and options of fund raising.

The announcement was made on Saturday, 29 November 2014.

Meanwhile, the S&P BSE Sensex was down 31.94 points or 0.11% at 28,662.05.

On BSE, so far 60,000 shares were traded in the counter as against average daily volume of 7,749 shares in the past one quarter.

The stock hit a high of Rs 96.60 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 81 so far during the day. The stock had hit a 52-week low of Rs 24.45 on 13 February 2014.

The stock had underperformed the market over the past one month till 28 November 2014, advancing 2.55% compared with the Sensex's 6.75% rise. The stock had, however, outperformed the market in past one quarter, jumping 27.78% as against Sensex's 7.72% rise.

SPML Infra's net profit fell 61.5% to Rs 1.93 crore on 7.7% decline in net sales to Rs 238.77 crore in Q2 September 2014 over Q2 September 2013.

SPML Infra is an infrastructure development company implementing projects in water supply and management, wastewater treatment and reuse, sewer-line rehabilitation and power (RE) development, transmission and distribution in India.

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