 "Arcotech hits 52-week high; stock up over 30% in one month")
Arcotech has surged 8% to Rs 464, also its 52-week high on the BSE in intra-day trade, extending it’s month-long rally.
In past one-month, the stock has outperformed the market by gaining 33% as compared to 2% decline in the S&P BSE Sensex.
The company had reported 13% year-on-year drop in its net profit at Rs 7.74 crore for the quarter ended September 30, 2016 (Q2FY17). It posted flat profit of Rs 17.47 crore in first half (April – September) of FY17 against Rs 17.12 crore in the same period last fiscal.
Arcotech manufactures copper as well as copper alloys products and aluminium products like plates/bars sheets strips foils and rods.
In December 2015, the company had received an order from INDIA GOVERNMENT MINT (IGM), Mumbai for supply of 6000 MT nickel brass coils worth Rs 268.30 crore with an option of another 25% order making it an aggregate order of Rs 335.37 crore.
Earlier in September 2014, the company had bagged an order from IGM for supply of 3000 MT nickel brass coils worth Rs 157 crore with an option of another 25% order making it an aggregate order of Rs 196 crore.
At 12:04 pm; the stock was up 3.5% at Rs 445 on the BSE against 0.4% rise in the benchmark index. A combined 137,429 shares changed hands on the counter on the BSE and NSE so far.
In past one-month, the stock has outperformed the market by gaining 33% as compared to 2% decline in the S&P BSE Sensex.
The company had reported 13% year-on-year drop in its net profit at Rs 7.74 crore for the quarter ended September 30, 2016 (Q2FY17). It posted flat profit of Rs 17.47 crore in first half (April – September) of FY17 against Rs 17.12 crore in the same period last fiscal.
Arcotech manufactures copper as well as copper alloys products and aluminium products like plates/bars sheets strips foils and rods.
In December 2015, the company had received an order from INDIA GOVERNMENT MINT (IGM), Mumbai for supply of 6000 MT nickel brass coils worth Rs 268.30 crore with an option of another 25% order making it an aggregate order of Rs 335.37 crore.
Earlier in September 2014, the company had bagged an order from IGM for supply of 3000 MT nickel brass coils worth Rs 157 crore with an option of another 25% order making it an aggregate order of Rs 196 crore.
At 12:04 pm; the stock was up 3.5% at Rs 445 on the BSE against 0.4% rise in the benchmark index. A combined 137,429 shares changed hands on the counter on the BSE and NSE so far.
