Valiant Communications hits 52-week high after new order win

Valiant Communications spurted 13.58% to Rs 84.90 at 11:05 IST on BSE, after the company announced receiving the letter of awards from Power Grid Corporation of India worth Rs 8.03 crore.

The company made the announcement during trading hours today, 18 November 2015.

Meanwhile, the BSE Sensex was down 58.25 points, or 0.23%, to 25,801.01

On BSE, so far 1.14 lakh shares were traded in the counter as against average daily volume of 20,022 shares in the past one quarter.

The stock hit a high of Rs 88 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 75 so far during the day. The stock hit a 52-week low of Rs 18.50 on 15 December 2014.

The stock had outperformed the market over the past one month till 17 November 2015, rising 21.24% compared with Sensex's 4.96% fall. The scrip had also outperformed the market in past one quarter, gaining 11.6% as against Sensex's 7.22% decline.

The small-cap company has an equity capital of Rs 7.22 crore. Face value per share is Rs 10.

Valiant Communications said that the company has received the letter of awards from Power Grid Corporation of India (PGCIL) for supply, installation and commissioning for Communication Equipment Package (PDH Equipment), for West Bengal State Electricity Distribution Company (WBSETCL) and Jharkhand (Jharkhand State Electricity Board) Consultancy projects. The gross value of letter of awards is Rs 8.03 crore, Valiant Communications said.

Valiant Communications reported net profit of Rs 0.08 crore in Q2 September 2015 as compared with net loss of Rs 0.10 crore in Q2 September 2014. Net sales rose 19.9% to Rs 3.26 crore in Q2 September 2015 over Q2 September 2014.

Valiant Communications is a manufacturer and exporter of a wide range of communication equipment. Valiant provides communications equipment and solutions for power utilities, oil & gas utilities, railways/metro rail networks, airport communications and defence networks.

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