Sunil Hitech Engineers gains after winning project

Sunil Hitech Engineers rose 1.58% to Rs 283.10 at 13:22 IST on BSE after the company said it won a project worth Rs 83 crore for construction of low cost housing in Jharkhand.

The announcement was made during trading hours today, 28 December 2015.

Meanwhile, the BSE Sensex was up 158.35 points, or 0.61%, to 25,997.06.

On BSE, so far 63,000 shares were traded in the counter, compared with an average volume of 62,183 shares in the past one quarter.

The stock hit a high of Rs 287.80 and a low of Rs 275 so far during the day. The stock hit a 52-week high of Rs 352 on 5 August 2015. The stock hit a 52-week low of Rs 136.25 on 6 January 2015.

The stock had underperformed the market over the past one month till 24 December 2015, sliding 10.62% compared with 0.24% rise in the Sensex. The scrip had however, outperformed the market in past one quarter, rising 11.66% as against Sensex's 0.10% decline.

The small-cap company has an equity capital of Rs 17.13 crore. Face value per share is Rs 10.

Sunil Hitech Engineers said the project is for construction of 2,000 units G+3 (four storey) Visthapit Awas by Jharia Rehabilitation and Development Authority, Dhanbad, Jharkhand. The total project cost is Rs 83 crore and is to be executed over a period of 24 months.

Net profit of Sunil Hitech Engineers rose 62.88% to Rs 10.62 crore on 36.64% rise in net sales to Rs 415.48 crore in Q2 September 2015 over Q2 September 2014.

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

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