Tecpro Systems slumps after getting approval for CDR

Tecpro Systems was locked at 5% lower circuit at Rs 17.33 at 10:15 IST on BSE after the company said that the Corporate Debt Restructuring proposal of the company has been approved by the Corporate Debt Restructuring Cell.

The company made the announcement after market hours yesterday, 19 November 2014.

Meanwhile, the S&P BSE Sensex was down 45.27 points or 0.15% at 27,991.36.

On BSE, so far 44,248 shares were traded in the counter as against average daily volume of 24,055 shares in the past one quarter.

The stock hit a high of Rs 17.95 and a low of Rs 17.33 so far during the day. The stock had hit a 52-week high of Rs 34.40 on 12 June 2014. The stock had hit a 52-week low of Rs 10.25 on 28 March 2014.

The stock had outperformed the market over the past one month till 19 November 2014, rising 61.99% compared with the Sensex's 7.37% rise. The scrip had also outperformed the market in past one quarter, gaining 6.05% as against Sensex's 6.1% rise.

The small-cap firm has an equity capital of Rs 50.47 crore. Face value per share is Rs 10.

The Corporate Debt Restructuring proposal of the company has been approved by the Corporate Debt Restructuring Cell, Mumbai, vide its letter of approval bearing dated 11 November 2014

Tecpro Systems reported net loss of Rs 180.66 crore in Q1 June 2014 compared with net loss of Rs 60.06 crore in Q1 June 2013. Total income fell 84.8% to Rs 46.94 crore in Q1 June 2014 over Q1 June 2013.

Tecpro Systems is an EPC company, engaged in providing turnkey solution. turnkey solutions in Bulk Material Handling Systems for cement, power, steel sectors etc, Ash Handling Systems for thermal power plants, Balance of Thermal Power Plant, Captive Power Plants, Captive Power Plants on Waste Heat Recovery Boiler based technology and Pollution Control systems.

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