Triveni Turbine gains after bulk deals

Triveni Turbine rose 1.66% to Rs 49 at 15:20 IST on BSE after three bulk deals aggregating 42.33 lakh shares were executed on BSE at Rs 49 per share.

A block deal of 10 lakh shares was executed at 13:25 IST. Another block deal of 16.33 lakh shares was executed at 14:05 IST while the third block deal of 16 lakh shares was executed at 14:50 IST. The three block deals constitute 1.28% of Triveni Turbine's equity.

Meanwhile, the S&P BSE Sensex was down 426.80 points or 2.22% at 18,755.46.

On BSE, 42.60 lakh shares were traded in the counter as against average daily volume of 87,259 shares in the past one quarter.

The stock was volatile. The stock rose as much as 5.8% at the day's high of Rs 51 so far during the day. The stock lost as much as 1.45% at the day's low of Rs 47.50 so far during the day. The stock had hit a 52-week low of Rs 41.25 on 3 September 2012. The stock had hit a record high of Rs 64 on 23 July 2013.

The stock had underperformed the market over the past one month till 5 August 2013, sliding 13.31% compared with the Sensex's 1.61% fall. The scrip had also underperformed the market in past one quarter, declining 9.91% as against Sensex's 2.01% fall.

The small-cap company has equity capital of Rs 32.99 crore. Face value per share is Re 1.

Triveni Turbine's net profit fell 24.4% to Rs 13.16 crore on 0.7% decline in net sales to Rs 110.60 crore in Q1 June 2013 over Q1 June 2012.

Triveni Turbine's core competency is in the area of steam turbines manufacturing upto 30 MW size.

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