Triveni Turbine drops after large bulk deal

Triveni Turbine fell 2.56% to Rs 125.60 at 14:35 IST on BSE after a large bulk deal of 75.16 lakh shares was executed on the scrip at Rs 131 per share in opening bell on BSE.

Meanwhile, the S&P BSE Sensex was up 32.88 points or 0.12% at 28,456.36

Bulk deal boosted volume on the scrip. On BSE, so far 77.25 lakh shares were traded in the counter, compared with average daily volume of 44,936 shares in the past one quarter. The stock hit a high of Rs 135 so far during the day, matching its 52-week high hit on 17 August 2016. The stock hit a low of Rs 125 so far during the day. The stock hit a 52-week low of Rs 87.50 on 29 February 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 10.64% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 19.24% as against Sensex's 5.89% rise.

The mid-cap company has equity capital of Rs 33 crore. Face value per share is Re 1.

Triveni Turbine's consolidated net profit jumped 32.22% to Rs 26.84 crore on 29.02% growth in net sales to Rs 158.81 crore in Q1 June 2016 over Q1 June 2015.

Triveni Turbine offers steam turbine solutions for industrial captive and renewable power. The company manufactures steam turbines up to 100 MW.

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