Swelect Energy drops on profit booking

Swelect Energy Systems fell 2.01% to Rs 524.70 at 14:25 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 4.63 points, or 0.01% at 31,302.16. The S&P BSE Small-Cap index was up 31.66 points, or 0.2% at 15,711.38.

On the BSE, 4,397 shares were traded on the counter so far as against the average daily volumes of 12,807 shares in the past one quarter. The stock had hit a high of Rs 541.50 and a low of Rs 518.10 so far during the day. The stock had hit a 52-week high of Rs 550 on 20 June 2017 and a 52-week low of Rs 295 on 22 November 2016.

The stock had outperformed the market over the past one month till 20 June 2017, advancing 48.61% compared with the Sensex's 2.73% rise. The scrip had also outperformed the market over the past one quarter advancing 58.3% as against the Sensex's 6.03% rise. The scrip had also outperformed the market over the past one year advancing 35.44% as against the Sensex's 16.49% rise.

The small-cap company has equity capital of Rs 10.11 crore. Face value per share is Rs 10.

Shares of Swelect Energy Systems had rallied 16.33% in the preceding three trading sessions to settle at Rs 535.45 yesterday, 20 June 2017, from its close of Rs 460.30 on 15 June 2017.

Swelect Energy Systems reported net profit of Rs 13.01 crore in Q4 March 2017, compared with net loss of Rs 1.05 crore in Q4 March 2016. Net sales rose 96.1% to Rs 78.63 crore in Q4 March 2017 over Q4 March 2016.

Swelect Energy Systems is engaged in the businesses of solar energy systems/services and foundry.

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