Unity Infraprojects surges 19.63% in two days

Unity Infraprojects jumped 13.25% to Rs 26.50 at 14:12 IST on BSE, with the stock extending yesterday's gains triggered by the company scheduling a board meeting on 21 January 2015 to consider issue of further equity shares to promoters.

Meanwhile, the S&P BSE Sensex was up 64.08 points or 0.23% at 28,139.63

On BSE, so far 2.61 lakh shares were traded in the counter as against average daily volume of 46,060 shares in the past one quarter.

The stock hit a high of Rs 27.60 and a low of Rs 23.25 so far during the day. The stock had hit a 52-week low of Rs 18.30 on 28 February 2014. The stock had hit a 52-week high of Rs 49.65 on 11 June 2014.

The stock had outperformed the market over the past one month till 15 January 2015, rising 10.9% compared with 2.77% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 1.52% as against Sensex's 6.55% rise.

The small-cap company has equity capital of Rs 14.82 crore. Face value per share is Rs 2.

Shares of Unity Infraprojects gained 19.63% in two trading days from a recent low of Rs 22.15 on 14 January 2015. The gains were triggered by the company scheduling a board meeting on 21 January 2015 to consider issue of further equity shares to promoters. The stock gained 5.64% to settle at Rs 23.40 on 15 January 2015 boosted by the announcement made after market hours on 14 January 2015. The board will also take on record Letter of Approval of corporate debt restructuring (CDR) package and conversion of Funded Interest Term Loan (FITL) into equity, Unity Infraprojects said.

Unity Infraprojects reported net loss of Rs 45.74 crore in Q2 September 2014 as against net profit of Rs 10.11 crore in Q2 September 2013. Total income declined 37.7% to Rs 253.47 crore in Q2 September 2014 over Q2 September 2013.

Unity Infraprojects is specialized in civil construction, transportation engineering and water supply/irrigation sectors projects.

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