 "Deep Industries hits 52-week high on heavy volumes")
Deep Industries has zoomed 20% to Rs 298, also its 52-week high on the BSE, on back of heavy volumes.
At 12:26 am; the stock was up 16% at Rs 289, as compared to 0.23% rise in the S&P BSE Sensex. The trading volumes of the counter jumped nearly four-fold with a combined 541,536 shares changed hands on the BSE and NSE.
The company engaged in oil field services and exploration & production business had successfully raised the funds by issuing shares through qualified institutional placements (QIP) on December 7.
The company raised Rs 63.84 crore by issuing 2.8 million equity shares at price of Rs 218 per share.
Deep Industries had reported more than doubled its consolidated net profit at Rs 17 crore for the quarter ended September 2016 (Q2FY17) against Rs 8 crore in the year ago quarter.
EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 540 basis points to 60.2% in Q2FY17 from 54.8% in Q2FY16.
At 12:26 am; the stock was up 16% at Rs 289, as compared to 0.23% rise in the S&P BSE Sensex. The trading volumes of the counter jumped nearly four-fold with a combined 541,536 shares changed hands on the BSE and NSE.
The company engaged in oil field services and exploration & production business had successfully raised the funds by issuing shares through qualified institutional placements (QIP) on December 7.
The company raised Rs 63.84 crore by issuing 2.8 million equity shares at price of Rs 218 per share.
Deep Industries had reported more than doubled its consolidated net profit at Rs 17 crore for the quarter ended September 2016 (Q2FY17) against Rs 8 crore in the year ago quarter.
EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 540 basis points to 60.2% in Q2FY17 from 54.8% in Q2FY16.