Valecha Engineering was locked at 5% upper circuit at Rs 36.75 at 9:53 IST on BSE after the company said it has secured two orders aggregating Rs 133.45 crore.
The company announced the new orders after market hours on Monday, 6 January 2014.
Meanwhile, the S&P BSE Sensex was down 88.78 points or 0.43% at 20,698.52.
On BSE, so far 4,677 shares were traded in the counter as against average daily volume of 17,719 shares in the past one quarter.
The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 36.75 so far in the day. The stock had hit a 52-week high of Rs 67.80 on 16 January 2013. The stock had hit a 52-week low of Rs 17.60 on 5 August 2013.
The stock had underperformed the market over the past one month till 6 January 2014, sliding 2.64% compared with the Sensex's 1% fall. The scrip had, however, outperformed the market in past one quarter, jumping 36.45% as against Sensex's 4.38% rise.
The small-cap company has equity capital of Rs 19.53 crore. Face value per share is Rs 10.
Valecha Engineering said the company has won a Rs 58.98 crore order for designing and constructing a flyover at Pune. The company has also received pilling projects worth Rs 74.47 crore. As the company moves ahead, it is focusing on getting an appropriate project mix involving leading edge infrastructure technologies, Valecha Engineering said. This will achieve a de-risked business model and increase operational growth, it added.
Valecha Engineering's net profit rose 6.8% to Rs 3.46 crore on 6% growth in net sales to Rs 158.76 crore in Q2 September 2013 over Q2 September 2012.
Valecha Engineering is engaged in the construction of major infrastructure & engineering projects such as roads, highways & expressways, bridges & tunnels, airports, irrigation dams, reservoirs & canals, railways foundation & piling works.
Powered by Capital Market - Live News
