Surya Roshni rose 1.99% to Rs 348.75 at 11:30 IST on BSE after the company said that it has obtained orders through competitive e-bidding for LED street lights.
The announcement was made during market hours today, 16 November 2017.Meanwhile, the S&P BSE Sensex was up 202.09 points, or 0.62%, to 32,962.53. The S&P BSE Small-Cap index was up 97.03 points, or 0.56%, to 17,370.43, underperforming the Sensex.
On the BSE, 2,495 shares were traded in the counter so far, compared with average daily volume of 63,555 shares in the past one quarter. The stock had hit a high of Rs 351.60 and a low of Rs 344.05 so far during the day. The stock had hit a 52-week high of Rs 391.80 on 30 October 2017. The stock had hit a 52-week low of Rs 165.50 on 27 December 2016.
The stock had outperformed the market over the past one month till 15 November 2017, advancing 11.28% compared with the Sensex's 1.01% rise. The scrip had also outperformed the market over the past one quarter gaining 33.57% as against the Sensex's 4.17% rise. The scrip had also outperformed the market over the past one year jumping 79.74% as against the Sensex's 24.54% rise.
The small-cap company has equity capital of Rs 43.83 crore. Face value per share is Rs 10.
Surya Roshni said that it has obtained orders through competitive e-bidding for LED street lights amounting to Rs 89.77 crore for design, manufacture, supply and testing under PAN India SLNP (Street light National Program) and for Chandrapur, Bikaner (Rajastjan) and Telangana from PSU entity, Energy Efficiency Services (EESL).
The one time order has to be executed in less than three months.
Surya Roshni's net profit rose 41.4% to Rs 18.52 crore on 19.6% rise in net sales to Rs 885.33 crore in Q2 September 2017 over Q2 September 2016.
Surya Roshni manufactures steel pipe products for agriculture, infrastructure, oil & gas and construction sectors. The company is also engaged in segments such as fans and home appliances.
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