Sunil Hitech Engineers gains after commissioning maiden green energy project

Don't want to miss the best from Business Standard?

Sunil Hitech Engineers rose 2.09% to Rs 215 at 15:25 IST on BSE after the company commissioned its first solar power project at Solapur.

The announcement was made during market hours today, 26 June 2015.

Meanwhile, the S&P BSE Sensex was down 88.82 points or 0.32% at 27,807.15

On BSE, so far 28,126 shares were traded in the counter as against average daily volume of 29,000 shares in the past two weeks.

The stock hit a high of Rs 217 and a low of Rs 208.70 so far during the day. The stock had hit a 52-week high of Rs 223 on 22 June 2015. The stock hit a 52-week low of Rs 102.05 on 13 August 2014.

The small-cap company has an equity capital of Rs 15.28 crore. Face value per share is Rs 10.

Sunil Hitech Engineers said that the commissioning marks the foray into non conventional green energy projects. The company is committed to the green initiatives in the power sector. This project leverages decades of civil and mechanical engineering experience to demonstrate our EPC capabilities, the company said. This experience will be extremely helpful to tap the huge EPC opportunity in the solar space opening up recently in India, it added.

Sunil Hitech Engineers reported 14.5% rise in net profit to Rs 12.24 crore on 9.6% rise in net sales to Rs 542.47 crore in Q4 March 2015 over Q4 March 2014.

Sunil Hitech Engineers is a construction company focused on infrastructure projects and renewable energy.

Powered by Capital Market - Live News