Sunteck Realty soars 10 pc post Q2 results

Shares of Sunteck Realty surged almost 10 per cent today after the company reported a six-fold jump in net profit for the second quarter, following which its market capitalisation increased by Rs 125 crore.
The company's stock ended at Rs 227.65 on the BSE, up 9.55 per cent.
During the session, the stock had risen by 15.71 per cent to touch an intra-day high of Rs 240.45. Trading volume soared by more than 5-times on the BSE.
Following the uptick in the counter, the market capitalisation of the company rose by Rs 124.99 crore to Rs 1,433.43 crore.
On NSE, the stock settled at 227.35, up 9.01 per cent. During the day, the stock had risen by 15.08 per cent to an intra-day high of Rs 240.

The company reported more than six-fold jump in consolidated net profit to Rs 97.28 crore for the second quarter of the current fiscal on a sharp rise in sales. Its net profit stood at Rs 15.53 crore in the year-ago period.
Sunteck CMD Kamal Khetan said the company "continued its strong performance both operationally and financially for the first half of FY17. Our prudent cash flow management practices along with financial discipline have enabled us to strengthen the balance sheet further".