CapitalMarket.com - New orders help McNally Bharat extend gains
Hot Pursuit Monday, February 08, 2010 14:45 Hrs IST

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New orders help McNally Bharat extend gains

McNally Bharat Engineering Company rose 2.28% to Rs 241.85 at 14:43 IST on BSE, extending gains for the second consecutive day after the company bagged two orders aggregating Rs 56.64 crore from Hindalco for its smelter projects.

The company announced fresh orders before trading hours on Saturday, 6 February 2010, when the stock rose 0.90% to Rs 236.45.

The BSE and the NSE held a special 90-minute trading session on Saturday between 11:00 and 12:30 IST.

Meanwhile, the BSE Sensex was up 86.24 points, or 0.54% to 16,001.89.

On BSE, 18,172 shares were traded in the counter as against an average daily volume of 53,136 shares in the past one quarter.

The stock hit a high of Rs 244 and a low of Rs 237.20 so far during the day. The stock had hit a 52-week high of Rs 289.80 on 19 January 2010 and a 52-week low of Rs 28.80 on 5 March 2009.

The stock has risen 3.20% in two trading sessions from a recent low of Rs 234.35 on 5 February 2010.

The small-cap stock had outperformed the market over the past one month till 6 February 2010, rising 0.11% as compared to the Sensex's 10.09% fall. It had also outperformed the market in the past one quarter, gaining 18.94% as compared to the Sensex's decline of 1.50%.

The company's equity capital is Rs 31.09 crore. Face value per share is Rs 10.

The current price of Rs 241.85 discounts the company's Q3 December 2009 annualized EPS of Rs 9.51, by a PE multiple of 25.43.

McNally Bharat Engineering Company (MBECL)'s net profit spurted 95% to Rs 7.39 crore on 59.1% rise in net sales to Rs 332.50 crore in Q3 December 2009 over Q3 December 2008.

McNally Bharat provides turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply.

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