Taneja Aerospace spurts after securing new order

Taneja Aerospace & Aviation was locked at 20% upper circuit at Rs 60.35 at 15:14 IST on BSE after the company in a clarification said it has signed a contract valued at Rs 12.79 crore with Indian Air Force.

The company made the announcement during market hours today, 28 November 2014.

Meanwhile, the S&P BSE Sensex was up 245.44 points or 0.86% at 28,684.35.

On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 33,391 shares in the past one quarter.

The stock hit a low of Rs 51.70 so far during the day. The stock had hit a 52-week high of Rs 61.50 on 9 October 2014. The stock had hit a 52-week low of Rs 16.65 on 19 December 2013.

The small-cap company has equity capital of Rs 12.47 crore. Face value per share is Rs 5.

Taneja Aerospace & Aviation in a clarification with regard to news item titled "Taneja Aerospace signs contract to upgrade MIG 29s" said that it has signed a contract with Indian Air Force, Nasik on 26 November, 2014 for upgradation of their MIG 29 aircrafts. The contract is for a value of Rs 12.79 crore and is to be executed over a period of three years effective 1 December 2014, the company said.

Taneja Aerospace & Aviation reported a net loss of Rs 1.35 crore in Q2 September 2014 compared with net profit of Rs 0.96 crore in Q2 September 2013. Net sales declined 40.1% to Rs 8.49 crore in Q2 September 2014 over Q2 September 2013.

Taneja Aerospace & Aviation is into all Aviation related business activities namely, aircraft manufacturing & maintenance centre and aviation infrastructure - airfield & MRO.

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