Jyoti Structures spurted 9.69% to Rs 22.65 at 13:21 IST on BSE on a media report that Aion Capital Partners invested Rs 300 crore in the company.
Meanwhile, the BSE Sensex was down 52.13 points, or 0.26%, to 19,729.75
On BSE, 2.11 lakh shares were traded in the counter compared with average volume of 55,141 shares in the past one quarter.
The stock hit a high of Rs 23.25 and a low of Rs 21.60 so far during the day. The stock hit a 52-week high of Rs 53.15 on 5 October 2012. The stock hit a 52-week low of Rs 15.05 on 2 August 2013.
The stock had outperformed the market over the past one month till 12 September 2013, rising 18.68% compared with the Sensex's 4.41% rise. The scrip had, however, underperformed the market in past one quarter, sliding 14.32% as against Sensex's 3.89% rise.
The small-cap company has an equity capital of Rs 16.45 crore. Face value per share is Rs 2.
Aion Capital Partners is a joint venture between Apollo Global Management and ICICI Venture.
According to the media report, the investment in Jyoti Group will be in the form of long-dated structured securities resulting in a significant minority stake and will be in tranches linked to certain performance milestones. The money will be utilised by the listed parent and will also facilitate business expansion in its overseas subsidiary in the US, the report said.
Net profit of Jyoti Structures declined 5.8% to Rs 16.34 crore on 8.6% rise in net sales to Rs 710.05 crore in Q1 June 2013 over Q1 June 2012.
Jyoti Structures undertakes turnkey/engineering, procurement and construction (EPC) projects in the field of power transmission. Its main business focus areas are transmission lines, substations and distribution projects.
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