Shares of Dilip Buildcon, Manpasand Beverages, and CG Power and Industrial Solutions were among five stocks that have rallied more than 100 per cent from their respective one-year lows touched in February. Sulzon Energy and Rolta India too have seen their market price more than double from their one-year lows on the BSE.
The S&P BSE Smallcap index is currently trading at 14,894 points, recovering 14 per cent from its 52-week low of 13,099 touched on February 18, 2019 in intra-day trade. In comparison, the S&P BSE Midcap and the benchmark S&P BSE Sensex were up 10 per cent and 7 per cent, respectively, during the same period.
Dilip Buildcon rose 5 per cent to Rs 734 on the BSE in intra-day trade on Tuesday, surging 22 per cent in past three trading days. The stock has thus bounced back 135 per cent from its one-year low of Rs 312 on February 5, on improved financial performance and orders win from the National Highways Authority of India (NHAI). It tanked 75 per cent from its all-time high level of Rs 1,248 on May 15, 2018.
The roads & highways construction company has the net order book of Rs 23,100 crore as on December 31, 2018, out of which 81.19 per cent of the order book is constituted by roads, highways and bridges project.
Analysts at HDFC Securities remain constructive on Dilip Buildcon as the brokerage firm believes that even though the newer HAMs are facing some challenges before moving into execution, the company continues to demonstrate its superior execution capabilities on its existing projects (with around Rs 50 crore bonus expected on the Lucknow-Sultanpur stretch, around eight months before time).
Manpasand Beverages surged 10 per cent to Rs 123 in intra-day today. The stock zoomed 112 per cent from its one-year low of Rs 58 hit on February 6 on the BSE. It corrected sharply by 87 per cent from its record high level of Rs 459 touched on May 25 last year.
In December 2018 quarter (Q3FY19), the non-alcoholic beverages company's earnings before interest, tax, depreciation and amortization (EBITDA) increased by 38 per cent at Rs 36.89 crore over the previous year quarter while the EBITDA margin improved from 18.01 per cent in Q3FY18 to 22.24 per cent in Q3FY19.
CG Power and Industrial Solutions was up 4.6 per cent to Rs 46.65, gaining 11 per cent in past three trading days on report that KKR, Yes Bank and BOI AXA may take control of Avantha Group Company. The stock has thus surged 118 per cent from its one-year low of Rs 21.40 on February 14, 2019.
According to a report in the Economic Times, the Gautam Thapar family may lose control of the heavy electrical equipment firm after it defaulted on payments, forcing private equity giant KKR to convert its loans into equity. Two other lenders, Yes Bank and BOI AXA, are in the process of doing the same in a move that will reduce the Thapar family to a minority, the report said.
On March 8, the pledge on shares created by Avantha Holdings as a promoter in CG Power and Industrial Solutions has been invoked by Vistra TCL (India), the Debenture Trustee, the company said in a regulatory filing on March 10. Vistra TCL (India) has invoked pledge created in its favour over a portion of the equity shares of CG Power and Industrial Solutions, being 67.69 million equity shares (of the aggregate number of 135.39 million shares pledged in favour), it said.
Although the pledge has been invoked, the Avantha Holdings will continue to have the right to require a re-transfer of the shares to itself upon repayment of the debt until the sale of the shares by the Debenture Trustee in which case any amounts received by Debenture Trustee over and above the outstanding amount of the debt will be payable to the Avantha Holdings, the company said in a regulatory filing.
|Company||1-year low||1-year low||Last traded||%|
|CG Power & Indu.||14/02/2019||21.40||45.75||113.8|
|Indo Count Inds.||18/02/2019||30.30||54.30||79.2|
|J Kumar Infra||01/02/2019||104.00||172.40||65.8|
|SREI Infra. Fin.||06/02/2019||19.15||30.20||57.7|