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Swelect Energy soars about 36% in two sessions

Capital Market 

Swelect Energy Systems rose 13.13% to Rs 287 at 13:49 IST on BSE, extending yesterday's 20% surge triggered by the company's bonus issue plan.

Meanwhile, S&P BSE Sensex was up 80.41 points or 0.2% at 39,896.89.

On BSE, 38,000 shares were traded in Swelect Energy Systems counter, compared to a 2-week average of 2,409 shares. The share price hit an intraday high of Rs 292.50 and an intraday low of Rs 263.30. It hit a 52-week high of Rs 365 on 30 July 2018 and a 52-week low of Rs 201 on 25 June 2019.

Swelect Energy Systems announced after market hours on 1 July 2019, that a meeting of the board of directors of the company will be held on 8 July 2019, to recommend issue of bonus shares, subject to approval of shareholders and other regulatory approvals.

Swelect Energy Systems is up 35.73% in two trading sessions to its current market price of Rs 287, from its close of Rs 211.45 on Monday, 1 July 2019. The stock hit an upper circuit limit of 20% to end at Rs 253.70 yesterday, 2 July 2019.

Net profit of Swelect Energy Systems declined 33.96% to Rs 3.89 crore on 52.96% decline in net sales to Rs 21.63 crore in Q4 March 2019 over Q4 March 2018.

Swelect Energy Systems is a solar power systems company.

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

First Published: Wed, July 03 2019. 12:40 IST