Infotech Enterprises softens after bulk deal

Meanwhile, the BSE Sensex was down 354.77 points, or 2.10%, to 16,522.29

A bulk deal of 4 lakh shares was executed on the Infotech Enterprises counter at Rs 125 per share at 10:33 IST on the BSE.

On BSE, 4.01 lakh shares were traded in the counter as against an average daily volume of 49,930 shares in the past one quarter.

The stock hit a high of Rs 126.45 and a low of Rs 121 so far during the day. The stock had hit a 52-week high of Rs 176 on 11 January 2011 and a 52-week low of Rs 104.05 on 19 August 2011.

 

The mid-cap stock outperformed the market over the past one month till 7 December 2011, rising 1.56% compared with the Sensex's 3.9% fall. The scrip also outperformed the market in past one quarter, gaining 3.30% as against 1.1% decline in the Sensex.

The software company has an equity capital of Rs 55.70 crore. Face value per share is Rs 5.

Infotech Enterprises' consolidated net profit rose 14.48% to Rs 30.74 crore on 7.47% growth in net sales to Rs 372.60 crore in Q2 September 2011 over Q1 June 2011.

Infotech Enterprises provides software solutions to a wide range of industries, including aerospace, rail, automotive, marine, energy, oil & gas, plant engineering, consumer electronics, medical electronic, semiconductors, telecom (manufacturers) computing industries, utilities, telecom (operators) and Government.

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