Infotech Enterprises slumps after twin bulk deals

Infotech Enterprises lost 6.84% to Rs 334.50 at 13:11 IST on BSE after 0.49% equity changed hands in two bulk deals today, 15 January 2014.

A bulk deal of 2.77 lakh shares was executed on the Infotech Enterprises counter at Rs 340 per share at 10:15 IST on BSE today, 15 January 2014. Another bulk deal of 2.77 lakh shares was executed on the counter at Rs 342.50 per share at 10:15 IST on BSE today, 15 January 2014.

Meanwhile, the S&P BSE Sensex was up 148.39 points or 0.71% at 21,181.27

Two bulk deals boosted volume on the scrip. On BSE, so far 5.94 lakh shares were traded in the counter as against average daily volume of 39,117 shares in the past one quarter.

 

The stock hit a high of Rs 361 and low of Rs 328 so far during the day. The stock had hit a record high of Rs 363 on 8 January 2014. The stock had hit a 52-week low of Rs 157 on 16 May 2013.

The stock had outperformed the market over the past one month till 14 January 2014, advancing 21.49% compared with the Sensex's 1.53% rise. The scrip had also outperformed the market in past one quarter, surging 60.61% as against Sensex's 2.06% rise.

The mid-cap company has equity capital of Rs 55.95 crore. Face value per share is Rs 5.

Infotech Enterprises' consolidated net profit rose 33.43% to Rs 72.47 crore on 13.5% growth in net sales to Rs 549.30 crore in Q2 September 2013 over Q1 June 2013.

Infotech Enterprises provides engineering solutions, including product development and life-cycle support, process, network and content engineering to major organizations worldwide.

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