Sunil Hitech Engineers gains after JV secures road EPC projects in Bihar

Sunil Hitech Engineers jumped 7.28% to Rs 296.30 at 11:39 IST on BSE after the company's joint venture was awarded two orders worth Rs 474 crore in Bihar.

The announcement was made during market hours today, 19 October 2015.

Meanwhile, the S&P BSE Sensex was up 50.89 points or 0.19% at 27,265.49

On BSE, so far 61,612 shares were traded in the counter as against average daily volume of 64,365 shares in the past one quarter.

The stock hit a high of Rs 300 and a low of Rs 279.10 so far during the day. The stock had hit a 52-week high of Rs 352 on 5 August 2015. The stock hit a 52-week low of Rs 130 on 17 December 2014.

The stock had outperformed the market over the past one month till 16 October 2015, rising 21.41% compared with 4.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 0.75% as against Sensex's 4.33% decline.

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

Sunil Hitech Engineers was awarded two orders worth Rs 474 crore in Bihar from Ministry of Road Transport and Highways, Government of India on engineering, procurement and construction (EPC) mode. The orders were awarded to Sunil Hitech - RCM joint venture and is part of national highways interconnectivity improvement project which is funded by World Bank, Sunil Hitech Engineers said.

Commenting on the orders win Sunil Gutte, Managing Director of Sunil Hitech Engineers said the company is continuing its strategy to diversify orderbook to improve profitability. Total orderbook on road segment currently is approximately Rs 1000 crore comprising of five projects, Sunil Gutte said.

Sunil Hitech Engineers reported 21.9% rise in net profit to Rs 11.01 crore on 8.7% rise in net sales to Rs 417.60 crore in Q1 June 2015 over Q1 June 2014.

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

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