Rolta India surged 4.82% to Rs 115.20 at 12:51 IST on BSE after the company said it has been awarded an additional scope of work by Sadara Chemical Company.
The announcement was made during market hours today, 21 July 2014.
Meanwhile, the S&P BSE Sensex was up 119.75 points or 0.47% at 25,761.31.
On BSE, so far 7.77 lakh shares were traded in the counter as against average daily volume of 4.90 lakh shares in the past one quarter.
The stock hit a high of Rs 116.60 and a low of Rs 110.20 so far during the day. The stock had hit a 52-week high of Rs 121.80 on 7 July 2014. The stock had hit a 52-week low of Rs 53 on 31 July 2013.
The stock had underperformed the market over the past one month till 18 July 2014, gaining 0.37% compared with Sensex's 1.57% rise. The scrip had, however, outperformed the market in past one quarter, jumping 36.44% as against Sensex's 13.31% rise.
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The small-cap IT firm has equity capital of Rs 161.33 crore. Face value per share is Rs 10.
Rolta India said that it has been awarded an additional scope of work by Sadara Chemical Company (Sadara) to implement a comprehensive engineering information system within Sadara's Jubail integrated chemical complex. This multi-million dollar award of additional scope is an amendment to the contract which was awarded earlier and which was also multi-million dollars in value, Rolta said. Rolta was selected for this challenging project based on its unique combination of world class capabilities in engineering and Information technology (IT), it added. The project is being managed by a global Rolta team working out of the United States, India and Saudi Arabia, Rolta said in a statement.
Mr, K. K. Singh, Chairman and CEO of Rolta commented, "We are very pleased to have been able to demonstrate our superior performance during the initial phase and win the customer's confidence for the second phase of work. Rolta is fully committed to the success of this important project."
Taher Nemer, Project Manager Manufacturing & Engineering Systems, Sadara Project said, "Successful implementation of the Engineering System is vital to the support and efficient operation of the Sadara Complex. We have partnered with Rolta on this challenging project because they've demonstrated the breadth of their sophisticated engineering IT expertise and have proven global delivery capabilities that are required for such an important project."
Rolta India's consolidated net profit surged 86.06% to Rs 138.82 crore on 46.84% growth in net sales to Rs 1114.78 crore in Q3 March 2014 over Q2 December 2013.
Rolta is a leading provider of innovative IT solutions for many vertical segments, including federal and state governments, defense, homeland security, utilities, oil & gas, financial services, manufacturing, retail and healthcare.
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