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Sicagen India soars after robust Q4 results

Capital Market 

Sicagen India rose 17.09% to Rs 45.90 at 9:45 IST on BSE after consolidated net profit jumped 120.44% to Rs 6.04 crore on 29.60% rise in net sales to Rs 196.69 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 117.83 points, or 0.38% to 30,540.94.

On the BSE, 1.26 lakh shares were traded in the counter so far, compared with average daily volumes of 84,749 shares in the past one quarter. The stock had hit a high of Rs 46.35 and a low of Rs 42.20 so far during the day. The stock hit a 52-week high of Rs 47.25 on 9 May 2017. The stock hit a 52-week low of Rs 17 on 2 June 2016.

The stock had outperformed the market over the past one month till 17 May 2017, rising 25.84% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 52.83% as against Sensex's 8.33% rise.

The small-cap company has equity capital of Rs 39.57 crore. Face value per share is Rs 10.

On a consolidated basis, Sicagen India's net profit jumped 598.11% to Rs 7.40 crore on 18.34% rise in net sales to Rs 710.86 crore in the year ended March 2017 over the year ended March 2016.

Sicagen India's core business is trading of building materials such as steel pipes and fittings, construction and structural steel, stainless steel sheets, pipes and fittings, cables, PVC/HDPE pipes and fittings and cement.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, May 18 2017. 09:47 IST