A2Z Infra Engineering rose 3% to Rs 37.80 at 13:57 IST on BSE after the company it entered into a definitive settlement agreement with SICOM.
The announcement was made during trading hours today, 23 October 2017.Meanwhile, the S&P BSE Sensex was up 18.43 points, or 0.06% to 32,408.39.
On the BSE, 10.08 lakh shares were traded in the counter so far, compared with average daily volumes of 3.61 lakh shares in the past one quarter. The stock had hit a high of Rs 40.80 and a low of Rs 36.20 so far during the day. The stock hit a 52-week high of Rs 52.70 on 26 April 2017. The stock hit a 52-week low of Rs 33.10 on 22 November 2016.
The stock was unchanged over the past one month till 19 October 2017, outperforming the Sensex's 0.03% decline in the same period. The scrip had underperformed the market in past one quarter, falling 18.08% as against Sensex's 1.13% rise. The scrip had also underperformed the market in past one year, falling 1.61% as against Sensex's 15.14% rise.
The small-cap company has equity capital of Rs 145.55 crore. Face value per share is Rs 10.
A2Z Infra Engineering announced that its board of directors in its meeting held on 21 September 2017, approved one-time settlement with SICOM for an amount of Rs 42.50 crore towards total outstanding of Rs 115.39 crore (as per SICOM).
A2Z Infra Engineering and SICOM entered into a definitive settlement agreement on 18 October 2017. As per the agreement, A2Z Infra Engineering will make a cash payment of Rs 17.50 crore and issue shares worth Rs 25 crore.
A2Z Infra Engineering reported net loss of Rs 36.36 crore in Q1 June 2017 as against net loss of Rs 18.75 crore in Q1 June 2016. Net sales declined 44.72% to Rs 112.06 crore in Q1 June 2017 over Q1 June 2016.
A2Z Infra Engineering is engaged in providing maintenance and engineering services.
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