Lanco Infratech rose 2.43% to Rs 7.16 at 10:45 IST on BSE after the company said its subsidiary, Lanco Kondapalli Power announced commercial operation of 371 megawatts capacity unit of phase III B power project on 9 January 2016.
The announcement was made on Saturday, 9 January 2016.Meanwhile, the S&P BSE Sensex was down 210.19 points or 0.84% at 24,724.14.
On BSE, so far 5 lakh shares were traded in the counter as against average daily volume of 13.27 lakh shares in the past one quarter. The stock hit a high of Rs 7.20 and a low of Rs 6.85 so far during the day. The stock had hit a 52-week high of Rs 7.78 on 6 January 2016. The stock had hit a record low of Rs 2.46 on 25 August 2015. The stock had outperformed the market over the past one month till 8 January 2016, rising 13.29% compared with 1.49% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 45.32% as against Sensex's 7.12% decline.
The mid-cap company has equity capital of Rs 274.93 crore. Face value per share is Re 1.
A 371 megawatts (MW) unit of the power project had already been made operational in August last year. This combined cycle gas-based power project at Vijayawada in Andhra Pradesh is reportedly being developed in three phases.
On consolidated basis, Lanco Infratech reported net profit of Rs 98.98 crore in Q2 September 2015 compared with net loss of Rs 527.48 crore in Q2 September 2014. Net sales rose 13% to Rs 2652.82 crore in Q2 September 2015 over Q2 September 2014.
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Lanco Infratech is one of the India's largest integrated infrastructure developers in India. The company has subsidiaries and divisions across a synergistic span of 5 business verticals viz. engineering, procurement and construction (EPC), power, natural resources, solar and infrastructure.
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