Supreme Infrastructure India was locked at 5% lower circuit at Rs 352 at 15:15 IST on BSE, extending Monday's 5% fall triggered by the company's weak Q1 June 2014 results.
Meanwhile, the BSE Sensex was up 67.63 points, or 0.26%, to 26,458.59.
On BSE, so far 188 shares were traded in the counter, compared with an average volume of 10,764 shares in the past one quarter.
The stock opened with an downward gap, falling by the maximum 5% daily circuit and remained locked at the 5% level at Rs 352 so far in the day. The stock hit a 52-week high of Rs 438.75 on 20 June 2014. The stock hit a 52-week low of Rs 149 on 1 October 2013.
The stock had underperformed the market over the past one month till 18 August 2014, falling 11.15% compared with 2.92% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 38.56% as against Sensex's 9.41% rise.
The small-cap company has equity capital of Rs 20.09 crore. Face value per share is Rs 10.
Supreme Infrastructure India's net profit fell 48.53% to Rs 11.38 crore on 13.67% decline in total income from operations to Rs 381.10 crore in Q1 June 2014 over Q1 June 2013.
The Q1 result was announced after market hours on Thursday, 14 August 2014. The stock market was closed on Friday, 15 August 2014, on account of Independence Day. Shares of Supreme Infrastructure India hit a lower circuit limit of 5% at Rs 370.50. The stock has fallen 9.74% in two trading sessions from Rs 390 on 14 August 2014.
Supreme Infrastructure India's board of directors at its meeting held on Thursday, 14 August 2014, approved issuance of securities for an amount not exceeding Rs 150 crore through an issuance of equity shares/fully convertible debentures/partly convertible debentures/non convertible debentures with warrants/preference shares convertible into equity shares with or without detachable warrants with a right exercisable by the warrant holders to convert or subscribe to the equity shares or otherwise/any other equity linked instrument including through a qualified institutions placement and/or issuance of equity shares through and/or any other instrument convertible or exchangeable into equity shares, and/or other securities with or without warrants, whether rupee denominated or denominated in foreign currency to eligible investors subject to the approval of the shareholders of the company.
Supreme Infrastructure India is one of the leading players in the infrastructure space, focusing on areas such as roads, bridges, power, water, railways, civil construction etc.
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