Sanghvi Forging & Engineering hit an upper circuit limit of 10% at Rs 40 at 14:16 IST on BSE after the company said it received orders worth Rs 10 crore from oil & gas, power and shipbuilding sectors.
The announcement was made during trading hours today, 22 September 2014.
Meanwhile, the BSE Sensex was up 73.06 points, or 0.27%, to 27,163.48.
On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 7,811 shares in the past one quarter.
The stock hit a low of Rs 35.80 so far during the day. The stock hit a 52-week high of Rs 48.40 on 8 August 2014. The stock hit a 52-week low of Rs 16 on 13 February 2014.
The stock had underperformed the market over the past one month till 19 September 2014, falling 4.71% compared with 2.53% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 20.73% as against Sensex's 7.49% rise.
Also Read
The small-cap company has an equity capital of Rs 13.29 crore. Face value per share is Rs 10.
The majority of the orders received by the company are for its new heavy open die forging plant, Sanghvi Forging & Engineering said in a statement.
The company's newly started heavy open die forging unit with the capacity of 15000 MTPA has increased the company's forging capacity fivefold.
Total order book size as on 22 September 2014 is Rs 38 crore and out of this around 75% is domestic and rest is from export orders, the company said.
Sanghvi Forging & Engineering reported net loss of Rs 4.20 crore in Q1 June 2014 as against net loss of Rs 2.64 crore in Q1 June 2013. Net sales rose 40.65% to Rs 14.22 crore in Q1 June 2014 over Q1 June 2013.
Sanghvi Forging & Engineering is engaged in manufacturing of open and closed die forging products for the oil & gas, petrochemicals, ship building, power & other sectors. It also exports products to various foreign countries.
Powered by Capital Market - Live News