Jyoti Structures jumped 5.82% to Rs 43.20 at 12:45 IST on BSE after the company said that a committee of the board of directors of the company on 12 November 2014 has allotted 38.05 lakh shares to Surya India Fingrowth, a promoter group company.
The company made the announcement after market hours on Wednesday, 12 November 2014.
Meanwhile, the S&P BSE Sensex was down 26.08 or 0.09% at 27,982.82.
On BSE, so far 4.95 lakh shares were traded in the counter as against average daily volume of 3.25 lakh shares in the past one quarter.
The stock hit a high of Rs 44.45 and a low of Rs 41.75 so far during the day. The stock had hit a 52-week high of Rs 69.80 on 7 February 2014. The stock had hit a 52-week low of Rs 20.20 on 21 November 2013.
The stock had underperformed the market over the past one month till 12 November 2014, rising 0.49% compared with the Sensex's 6.51% rise. The scrip had also underperformed the market in past one quarter, falling 3.76% as against Sensex's 8.22% rise.
The small-cap firm has an equity capital of Rs 21.14 crore. Face value per share is Rs 2.
Shares were alloted to the promoter group company at an issue price of Rs 52 per share, a premium of 20.37% over the ruling price.
Jyoti Structures reported net loss of Rs 69.37 crore in Q2 September 2014 compared with net profit of Rs 14.63 crore in Q2 September 2013. Total income was almost unchanged at Rs 657.75 crore in Q2 September 2014 over Q2 September 2013.
Jyoti Structures is in Turnkey/EPC Projects in the field of Power Transmission. The company's main business focus areas are Transmission Lines, Substations and Distribution Projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in Design, Testing, Manufacturing, Sourcing, Supply and Construction with its in-house expertise.
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