Nila Infrastructures advances after securing work order

Nila Infrastructures rose 2.32% to Rs 17.65 at 13:47 IST on BSE after the company said it has received a work order from AMC towards construction of D K Patel Hall at Ahmedabad.

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 28.12 points or 0.09% at 29,938.34. The BSE Small-Cap index was up 160.95 points or 1.1% at 14,781.18.

On the BSE, 5.77 lakh shares were traded on the counter so far as against the average daily volumes of 6.54 lakh shares in the past one quarter. The stock had hit a high of Rs 18.50 and a low of Rs 17.40 so far during the day.

 

The stock had hit a record high of Rs 19.90 on 6 February 2017 and a 52-week low of Rs 10.25 on 24 June 2016. The stock had underperformed the market over the past 30 days till 3 April 2017, falling 0.29% compared with Sensex's 3.74% rise. The scrip, however, outperformed the market in past one quarter, rising 16.08% as against Sensex's 12.26% gain.

The small-company has equity capital of Rs 39.34 crore. Face value per share is Re 1.

Nila Infrastructures said that with the latest order win, the company has forayed into yet another activity within civic urban infrastructure. AMC intends to construct a majestic community hall with all the latest amenities for the benefit of its citizens. The hall could be used for social, religious, and other general community purpose. The project involves built up construction of about 6000 sq. mtrs. and shall be completed within 24 months at an envisaged cost of Rs 15.57 crore.

Nila Infrastructures' net profit rose 24.7% to Rs 5.61 crore on 17.7% growth in net sales to Rs 50.76 crore in Q3 December 2016 over Q3 December 2015.

Nila Infrastructures is engaged in developing civic urban infrastructure projects on EPC, turnkey, PPP mode, as well as private white label construction and Industrial infrastructure projects.

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