Pratibha Industries rose 4.09% to Rs 22.90 at 13:04 IST on BSE, with the stock extending 2-day 16.71% rally triggered by the company securing a water supply contract worth Rs 418.36 crore from PHED in Ajmer, Rajasthan.
Meanwhile, the S&P BSE Sensex was down 172.29 points or 0.86% at 19,825.16.
On BSE, 36,000 shares were traded in the counter as against average daily volume of 1.03 lakh shares over the past one quarter.
The stock hit a high of Rs 23.60 and a low of Rs 22.30 so far during the day. The stock had hit a 52-week high of Rs 58.65 on 10 January 2013. The stock had hit a 52-week low of Rs 16.80 on 22 August 2013.
The stock had underperformed the market over the past one month till 11 September 2013, sliding 3.93% compared with the Sensex's 6.43% rise. The scrip had also underperformed the market in past one quarter, declining 36.69% as against Sensex's 4.46% rise.
The small-cap company has equity capital of Rs 20.21 crore. Face value per share is Rs 2.
Shares of Pratibha Industries have rallied 21.48% in three trading sessions from a recent low of Rs 18.85 on 6 September 2013, after the company during trading hours on 10 September 2013 said it has secured a water supply contract worth Rs 418.36 crore from PHED in Ajmer, Rajasthan. The contract is scheduled to be completed in 36 months from the date of commencement.
Pratibha Industries' consolidated net profit fell 99.3% to Rs 0.16 crore on 1.3% decline in net sales to Rs 552.27 crore in Q1 June 2013 over Q1 June 2012.
Pratibha Industries is a flagship company of Pratibha Group. The company undertakes urban infrastructure projects, which cover water supply and distribution projects, waste and sewerage management including environmental engineering. The company is also among the leading players in the construction arena.
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