BS hit an upper circuit limit of 20% at Rs 15.04 at 9:23 IST on BSE after the company announced that it has won several orders to the tune of Rs 722 crore from power utilities.
The company made the announcement after market hours on Thursday, 3 April 2014.
Meanwhile, the BSE Sensex was down 67.11 points, or 0.30%, to 22,441.96.
On BSE, so far 55,000 shares were traded in the counter, compared with an average volume of 1.59 lakh shares in the past one quarter.
The stock hit a high of Rs 15.04 and a low of Rs 13.75 so far during the day. The stock hit a 52-week high of Rs 17.45 on 5 April 2013. The stock hit a 52-week low of Rs 10.45 on 11 December 2013.
The stock had underperformed the market over the past one month till 2 April 2014, sliding 1.09% compared with the Sensex's 6.78% rise. The scrip had, however, outperformed the market in past one quarter, rising 8.39% as against Sensex's 7.96% rise.
The small-cap company has an equity capital of Rs 43.90 crore. Face value per share is Re 1.
These orders are for turnkey/EPC contracts for 220 kilovolt (KV) and 132 KV transmission lines and associated substation in Madhya Pradesh. The projects funded by Asian Developments Bank are for strengthening the grid and enhancing transmission capacity, bringing muich-needed electricity to the region to meet growing domestic and industrial demand.
On a consolidated basis, BS' net profit declined 37.7% to Rs 8.76 crore on 2.4% growth in net sales to Rs 541.25 crore in Q3 December 2013 over Q3 December 2012.
BS is engaged in the power transmission & distribution and telecom passive infrastructure businesses.
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