BF Utilities rose 2.08% to Rs 593.15 at 13:11 IST on BSE after the company acquired 100% shareholding in Avichal Resources.
With this acquisition, Avichal Resources has become a wholly owned subsidiary of the company, BF Utilities said. Avichal Resources is the owner of land required for the company's existing wind farm located at Satara district, the company said. With the acquisition of Avichal Resources, the company has strengthened these wind farm assets, it added. The announcement was made during market hours today, 17 March 2016.Meanwhile, the S&P BSE Sensex was up 163.63 points or 0.66% at 24,846.11
On BSE, so far 2.59 lakh shares were traded in the counter as against average daily volume of 3.12 lakh shares in the past one quarter. The stock hit a high of Rs 604.85 and a low of Rs 582.45 so far during the day. The stock had hit a 52-week high of Rs 872 on 13 April 2015. The stock had hit a 52-week low of Rs 389.85 on 12 February 2016. The stock had outperformed the market over the past one month till 16 March 2016, gaining 36.51% compared with Sensex's 6.43% rise. The scrip had, however, underperformed the market in past one quarter, declining 3.36% as against Sensex's 3.18% fall.
The small-cap company has equity capital of Rs 18.83 crore. Face value per share is Rs 5.
BF Utilities reported net loss of Rs 0.63 crore in Q1 December 2015, lower than net loss of Rs 2.71 crore in Q1 December 2014. Net sales rose 54.8% to Rs 2.60 crore in Q1 December 2015 over Q1 December 2014.
BF Utilities, through its subsidiaries, is engaged in the business of integrated infrastructure development in the cities of Bangalore and Mysore.
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