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Skipper soars after bagging Power Grid order

Capital Market 

Skipper surged 13.90% to Rs 57.35 after the company said it bagged a new turnkey project of Rs 524 crore from Power Grid Corporation of India.

Skipper said it emerged favourably placed in a new turnkey project of Rs 524 crore from Power Grid Corporation of India for supply and installation of 765kV, 190km Hexa Zebra Conductor Transmission Line from Fatehgarh2 to Bhadla2 under TBCB bidding conducted by PFC for Green Energy Corridor projects.

Meanwhile, the S&P BSE Sensex was up 140.64 points or 0.38% to 37,122.41.

On the BSE, 1551 shares were traded in the counter so far compared with average daily volumes of 4139 shares in the past two weeks. The stock hit a high of Rs 58.80 and a low of Rs 49.9 so far during the day.

The stock hit a 52-week high of Rs 129 on 07 Sep 2018. The stock hit a 52-week low of Rs 39.5 on 22 Aug 2019.

On a consolidated basis, the company's net profit rose 74.7% to Rs 7.86 crore on a 29.3% decline in net sales to Rs 338.56 crore in Q1 June 2019 over Q1 June 2018.

Skipper is one of the leading companies in the power transmission & distribution and the PVC pipes segment.

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

First Published: Mon, September 09 2019. 15:06 IST