Sunil Hitech Engineers jumped 4.92% to Rs 12.57 at 11:50 IST on BSE after the company said it was awarded four road projects worth of Rs 935.91 crore in Maharashtra on engineering, procurement and construction mode.
The announcement was made during market hours today, 6 April 2017.Meanwhile, the S&P BSE Sensex was down 133.31 points, or 0.44% to 29,840.93. The S&P BSE Small-Cap index was down 51.96 points, or 0.35% to 14732.72, outperforming the Sensex.
On the BSE, 7.53 lakh shares were traded in the counter so far, compared with average daily volumes of 5.21 lakh shares in the past two weeks. The stock had hit a high of Rs 12.68 and a low of Rs 11.82 so far during the day.
The stock had hit a record high of Rs 23.43 on 20 October 2016. The stock had hit a 52-week low of Rs 7.75 on 24 June 2016. It had outperformed the market over the past one month till 5 April 2017, advancing 7.54% compared with the Sensex's 3.96% rise. The scrip had, however, underperformed the market over the past one quarter, falling 3.7% as against the Sensex's 11.52% rise.
The small-cap company has equity capital of Rs 37.80 crore. Face value per share is Rs 1.
Sunil Hitech Engineers said that the company has received letter of award in regards to the projects and will be signing the engineering, procurement and construction (EPC) agreement soon.
All the aforesaid projects have been won in joint venture with other companies and Sunil Hitech Engineers will be executing 100% of the work, the company added.
The stock has jumped 9.2% in five sessions to its current price of Rs 12.57 from a close of Rs 11.51 on 29 March 2017.
Net profit of Sunil Hitech Engineers rose 2.5% to Rs 13.07 crore on 8.9% rise in net sales to Rs 530.81 crore in Q3 December 2016 over Q3 December 2015.
Sunil Hitech Engineers is a well established player in engineering procurement construction (EPC) and construction of road & bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc. and also in renewable energy sector.
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