Sunil Hitech Engg jumps on bonus issue proposal

Sunil Hitech Engineers jumped 8.44% to Rs 347 at 10:00 IST on BSE after the company said its board will consider the issue of bonus shares and the issue of convertible warrants to the promoters and non-promoters on 11 October 2016.

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 42.98 points or 0.15% at 28,104.12.

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 1.26 lakh shares in the past one quarter. The stock hit a high of Rs 358 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 330.95 so far during the day. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had outperformed the market over the past one month till 7 October 2016, gaining 30.21% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 82.08% as against Sensex's 3.16% rise.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

Sunil Hitech Engineers' net profit rose 8% to Rs 11.89 crore on 6.3% growth in net sales to Rs 443.77 crore in Q1 June 2016 over Q1 June 2015.

Sunil Hitech Engineers is an engineering, procurement & construction (EPC) company.

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