Voltamp Transformers gains after resuming operations at Savli factory

Voltamp Transformers rose 1.81% to Rs 923 at 10:56 IST on BSE after the company announced that working at its Savli factory, Vadodara, Gujarat has resumed from 7 January 2017 and the production activities are normal at present.

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 103.32 points, or 0.39%, to 26,829.87

On the BSE, 494 shares were traded on the counter so far as against the average daily volumes of 6,052 shares in the past one quarter. The stock had hit a high of Rs 926.75 and a low of Rs 914.40 so far during the day.

The stock hit a 52-week high of Rs 1,003 on 30 November 2016. The stock hit a 52-week low of Rs 665.50 on 24 February 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, falling 1.77% compared with Sensex's 0.08% fall. The scrip had, however, outperformed the market in past one quarter, gaining 12.1% as against Sensex's 4.83% decline.

The small-cap company has equity capital of Rs 10.12 crore. Face value per share is Rs 10.

It may be recalled that Voltamp Transformers had on 22 December 2016 announced suspension of operations at Savli factory in Gujarat from 21 December 2016 after a few of contract workmen resorted to violence on 20 December 2016.

Net profit of Voltamp Transformers rose 209.1% to Rs 20.96 crore on 21.1% rise in net sales to Rs 160.84 crore in Q2 September 2016 over Q2 September 2015.

Voltamp Transformers has installed facility to manufacture oil filled power and distribution transformers up to 160 megavolt amperes (MVA), 220 kilovolts (kV) class.

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