3i Infotech jumped 13.94% to Rs 4.66 at 13:45 on BSE after the company said that it has pre-paid Rs 38.5 crore of its principal outstanding debt.
The announcement was made during market hours today, 28 June 2017.Meanwhile, the S&P BSE Sensex was down 156.62 points, or 0.51%, to 30,801.63. The S&P BSE Small-Cap index was down 10.42 points, or 0.07%, to 15,130.66.
Huge volumes were witnessed on the counter. On the BSE, 9.89 lakh shares were traded in the counter so far, compared with average daily volume of 4.98 lakh shares in the past one quarter. The stock had hit a high of Rs 4.75 in intraday trade. The stock had hit a low of Rs 4.02 so far during the day, which is also a 52-week low for the stock. The stock had hit a 52-week high of Rs 7.20 on 24 October 2016.
The stock had dropped 7.88% in six sessions to Rs 4.09 yesterday, 27 June 2017, from a close of Rs 4.44 on 16 June 2017.
The stock had underperformed the market over the past one month till 27 June 2017, falling 14.79% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 20.43% as against Sensex's 5.89% rise. The scrip had also underperformed the market in past one year, dropping 14.08% as against Sensex's 17.25% rise.
The small-cap company has an equity capital of Rs 1245.98 crore. Face value per share is Rs 10.
3i Infotech said that the amount represents 6 monthly installments of the principal amount which were due for repayment from 30 April 2018 as per the terms of the Debt Realignment Scheme (DRS) approved by its lenders.
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The company continues to service its lenders on a regular basis from the effective date of implementation of DRS from 1 April 2016.
3i Infotech's consolidated net profit rose 75.38% to Rs 33.34 crore on 3.03% rise in net sales to Rs 255.52 crore in Q4 March 2017 over Q3 December 2016.
3i Infotech provides software solutions and a wide range of IT services.
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