Ujaas Energy gains after winning order for hydroelectric power plant in West Bengal

Ujaas Energy gained 1.99% to Rs 15.85 at 10:45 IST on BSE after receiving a letter of intent for 10 megawatts of Teesta Canal Fall Hydroelectric Power Plant, Haptiagachh, Uttar Dinajpur, West Bengal.

The company made announcement after market hours yesterday, 22 September 2015

Meanwhile, the BSE Sensex was down 77.97 points, or 0.33%, to 25,566.84.

On BSE, so far 27,762 shares were traded in the counter, compared with an average volume of 1.51 lakh shares in the past one quarter.

The stock hit a high of Rs 16.14 and a low of Rs 15.66 so far during the day. The stock hit a 52-week high of Rs 25.50 on 11 November 2014. The stock hit a 52-week low of Rs 13.55 on 17 December 2014.

The stock had underperformed the market over the past one month till 22 September 2015, falling 6.39% compared with Sensex's 6.26% fall. The stock had also underperformed the market in past one quarter, dropping 10.95% as against Sensex's 7.49% fall.

The small-cap power generating company has an equity capital of Rs 20 crore. Face value per share is Re 1.

Ujaas Energy said that it has received a letter of intent for a project worth about Rs 65.88 crore for design & engineering, manufacturing/procurement, supply, installation, testing and commissioning including warrantee obligation, for 10 megawatts (MW) of Teesta Canal Fall Hydroelectric Power Plant, Stage-II at Haptiagachh in West Bengal.

Ujaas Energy's net profit fell 3.4% to Rs 1.43 crore on 53.6% fall in total income to Rs 12.16 crore in Q1 June 2015 over Q1 June 2014.

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