Stone India gallops on securing export order from China

Stone India jumped 13.9% at Rs 50.40 at 14:08 IST on BSE after the company received first export order from China.

The company made the announcement during trading hours today, 21 October 2014.

Meanwhile, the BSE Sensex was up 104.76 points, or 0.4%, to 26,534.61

On BSE, so far 2 lakh shares were traded in the counter, compared with an average volume of 23,726 shares in the past one quarter.

The stock hit a 52-week high of Rs 53 in intraday trade today, 21 October 2014. The stock hit a low of Rs 43.55 so far during the day. The stock hit a 52-week low of Rs 14 on 19 December 2013.

The stock had outperformed the market over the past one month till 20 October 2014, rising 5.36% compared with 2.44% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 14.19% as against Sensex's 3.07% rise.

The small-cap company has an equity capital of Rs 8.17 crore. Face value per share is Rs 10.

Stone India said that the company has made a break through with a Chinese Freight Car builder and received the first ever export order for their proprietary brake system. The contract is valid for supply of the system for a period of one year. This opens up a major export market for the company, Stone India said.

Stone India reported net loss of Rs 0.53 crore in Q1 June 2014, lower than net loss of Rs 0.97 crore in Q1 June 2013. Net sales fell 5.6% to Rs 22.71 crore in Q1 June 2014 over Q1 June 2013.

Stone India is engaged in manufacturing equipment for railways like alternators, air brakes and brake regulators.

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