Swelect Energy surges after turnaround in Q4

Swelect Energy Systems surged 19.96% to Rs 421.25 at 10:37 IST on BSE after the company reported net profit of Rs 13 crore in Q4 March 2017, compared with net loss of Rs 1.04 crore in Q4 March 2016.

The result was announced after market hours yesterday, 25 May 2017.

Meanwhile, the S&P BSE Sensex was up 138.01 points or 0.45% at 30,888.04. The S&P BSE Small-Cap index was up 205.01 points or 1.38% at 15,053.74.

On the BSE, 1.21 lakh shares were traded on the counter so far as against the average daily volumes of 2,635 shares in the past one quarter. The stock had hit a high of Rs 421.35 and a low of Rs 409 so far during the day.

The stock had hit a 52-week high of Rs 425 on 4 July 2016 and a 52-week low of Rs 295 on 22 November 2016. It had underperformed the market over the past one month till 25 May 2017, sliding 9.2% compared with the Sensex's 2.69% rise. The scrip had also underperformed the market over the past one quarter, advancing 3.11% as against the Sensex's 6.43% rise.

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

Swelect Energy Systems' total income rose 95.67% to Rs 91.75 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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