Lanco Infratech rose 3.49% to Rs 6.53 at 11:39 IST on BSE after the company said it has emerged as the successful bidder for an EPC contract of about Rs 3960 crore from Tamil Nadu Generation and Distribution Corporation.
The announcement was made on Thursday, 27 February 2014. The stock market was closed on that day, on account of Mahashivratri.
Meanwhile, the S&P BSE Sensex was up 78.78 points or 0.38% at 21,065.77.
On BSE, so far 5.03 lakh shares were traded in the counter as against average daily volume of 11.14 lakh shares in the past one quarter.
The stock hit a high of Rs 6.72 and a low of Rs 6.48 so far during the day. The stock had hit a record low of Rs 4.96 on 31 July 2013. The stock had hit a 52-week high of Rs 14.25 on 14 March 2013.
The stock had underperformed the market over the past one month till 26 February 2014, sliding 17.08% compared with the Sensex's 0.69% fall. The scrip had, however, outperformed the market in past one quarter, jumping 8.61% as against Sensex's 2.75% rise.
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The small-cap company has equity capital of Rs 240.78 crore. Face value per share is Re 1.
Lanco Infratech said it has emerged as the successful bidder for the prestigious I X 660 MW Supercritical Ennore Thermal Power Station Expansion Project EPC (engineering, procurement and construction) contract of about Rs 3960 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO).
The Letter of Intent (LoI) for this project would be issued shortly as confirmed by TANGEDCO, Lanco Infratech said in a statement.
Lanco Infratech will be adding this EPC order of Rs 3960 crore to its existing order book of Rs 23045 crore to bring the order book to Rs 27005 crore.
On consolidated basis, Lanco Infratech reported a net loss of Rs 529.68 crore in Q3 December 2013, higher than net loss of Rs 464.64 crore in Q3 December 2012. Net sales declined 32.3% to Rs 2501.66 crore in Q3 December 2013 over Q3 December 2012.
Lanco Infratech is one of the largest private sector infrastructure EPC players in the country. The company operates in five core sectors viz. EPC, power, natural resources, solar and infrastructure.
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