Valecha Engineering jumps after winning orders

Valecha Engineering rose 11.30% to Rs 91.60 at 13:25 IST on BSE after the company said it bagged construction projects worth Rs 125.49 crore.

The announcement was made during trading hours today, 31 March 2015.

Meanwhile, the BSE Sensex was up 135.72 points, or 0.49%, to 28,111.58.

On BSE, so far 2.18 lakh shares were traded in the counter, compared with an average volume of 1.03 lakh shares in the past one quarter.

The stock hit a high of Rs 95.70 and a low of Rs 81.10 so far during the day. The stock hit a 52-week high of Rs 130.80 on 3 February 2015. The stock hit a 52-week low of Rs 37.35 on 31 March 2014.

The stock had underperformed the market over the past one month till 30 March 2015, falling 20.71% compared with 4.72% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 21.12% as against Sensex's 2.09% rise.

The small-cap company has an equity capital of Rs 19.53 crore. Face value per share is Rs 10.

Valecha Engineering said it won a road project at Jharkhand worth Rs 112.45 crore. It also won diaphragm wall, retaining wall work and road work of Rs 13.03 crore at Ahmedabad.

Valecha Engineering reported net loss of Rs 17.49 crore in Q3 December 2014 as against net profit of Rs 6.17 crore in Q3 December 2013. Net sales declined 0.94% to Rs 160.97 crore in Q3 December 2014 over Q3 December 2013.

Valecha Engineering is engaged in the construction of major infrastructure & engineering projects such as roads, highways & expressways, bridges & tunnels, airports, irrigation dams, reservoirs & canals, railways foundation & piling works.

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