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ACE, Mastek, Nitco,Precision Wires from BSE Smallcap index hit 52-week high

SI Reporter/Mumbai 14 Feb 18 | 12:58 PM

Action Construction Equipment (ACE), Precision Wires India, Mastek, Pancea Biotech and Nitco were among 10 stocks from the BSE Smallcap index hitting their respective 52-week highs in otherwise subdued market after reported a good set of numbers for the quarter ended December 2017 (Q3FY18).

Firstsource Solutions, J Kumar Infrastructure, Lumax Auto Technologies, Shriram EPC and Zydus Wellness too touched 52-week high on BSE in intra-day trade on Wednesday.

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At 12:15 pm; the S&P BSE Small-cap index, the largest gainer among broader indices, was up 0.79%, as compared to 0.73% rise in the S&P BSE Mid-cap and unchanged in the benchmark S&P BSE Sensex at 34,301 points.

ACE has rallied 17% to Rs 204, also its all-time high on BSE. The stock surged 36% in past five trading sessions, erasing their entire losses recorded in recent market fall.

ACE, largest mobile crane and tower crane manufacturing company, had posted a more than three-fold jump in net profit at Rs 164 million in Q3FY18 against Rs 49 million in the same quarter year ago. Total operational income increased 48% to Rs 2,791 million from Rs 1,878 million in the corresponding quarter of previous fiscal.

“The business growth in the bygone quarter Q3FY18 is healthy as demonstrated by a steady revenue growth of 48% and PAT growth of 236% y-o-y. The Company is confident of exceeding the already upwardly revised 25 % growth target set for FY18 and is now looking at least 35 to 40 % growth in FY 18 itself," Sorab Agarwal, Executive Director, ACE said while announcing Q3 results.

Nitco too surged 17% to Rs 142 on BSE in intra-day trade today, after the company posted net loss of Rs 81 million in Q3FY18 against loss of Rs 90 million in Q3FY17. In past six months, the stock zoomed 127% as compared to 9% rise in the Sensex.

The company said it has received approval for restructuring of its debt from JM Finance Assets Reconstruction Company (JMARC), the effect of the same will be provide in the next quarter after obtaining shareholders approvals. In addition, JMARC has agreed to infuse Rs 800 million by way of equity and Rs 700 million by way of convertible warrants. The infusion of funds will be utilized towards working capital and in turnaround of the operations of the company. Consequently, the financials have been prepared on going concern basis.

Precision Wires India hit a fresh 52-week high of Rs 345, up 7%, extending its Monday’s 19% surge on BSE, after the company reported more than two-fold jump in net profit at Rs 109 million in Q3FY18. It had profit of Rs 44 million in Q3FY17. Operational revenues during the quarter under review doubled to Rs 4,135 million from Rs 2,062 million in the corresponding quarter of previous fiscal.

COMPANYLATEST52 WK HIGHPREV HIGHPREV DATEACTION CONST.EQ.194.55204.20189.7525-Jan-18FIRSTSOUR.SOLU.48.7550.2049.3013-Feb-17J KUMAR INFRA347.50375.00374.9012-Feb-18LUMAX AUTO TECH.896.35931.85890.0012-Feb-18MASTEK513.85527.70515.0024-Jan-18NITCO136.20142.25140.9025-Jan-18PANACEA BIOTEC350.00364.00343.5512-Feb-18PREC. WIRES (I)336.05345.00324.3012-Feb-18SHRIRAM EPC34.0035.5033.9027-Dec-17ZYDUS WELLNESS1190.001212.701197.0008-Feb-18

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Company Price Gain (%)
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