Home Featured Swelect Energy Systems hits the roof due to turnaround in quarterly earnings
Swelect Energy Systems hits the roof due to turnaround in quarterly earnings

Swelect Energy Systems hits the roof due to turnaround in quarterly earnings

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Swelect Energy Systems on Thursday posted a standalone net profit of Rs 13 crore for the quarter ended March 31, 2017, as against a standalone net loss of Rs 1.04 crore for the same quarter in the previous year.

The board of directors of the company in its meeting held on May 25, 2017, also recommended a final dividend of Rs 4 per equity share for the financial year ended March 31, 2017, as per BSE filing.

Meanwhile, Swelect Energy witnessed a spurt in the volume by more than 114.70 times. The stock breached upper circuit, higher by 19.99% at Rs 421.35 per share.

Swelect Energy Systems Limited is engaged in the business of manufacturing and trading of solar power projects, solar and wind power generation, sale of solar photovoltaic inverters and energy efficient lighting systems.

Stock View:

Swelect Energy Systems Ltd is currently trading at Rs 421.35, up by Rs 70.2 or 19.99% from its previous closing of Rs 351.15 on the BSE.

The scrip opened at Rs 420.95 and has touched a high and low of Rs 421.35 and Rs 409 respectively. So far 329869(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 354.87 crore.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 425 on 04-Jul-2016 and a 52 week low of Rs 295 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 379.75 and Rs 336.05 respectively.

The promoters holding in the company stood at 64.08 % while Institutions and Non-Institutions held 1.72 % and 34.2 % respectively.

Source:IIFL
Anand Gupta Editor - EQ Int'l Media Network

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