BGR Energy Systems slumps on weak quarterly earnings

The company announced the results after market hours on Wednesday, 27 July 2011.

Meanwhile, the BSE Sensex was down 177.77 points, or 0.96%, to 18,254.48.

On BSE, 60,491 shares were traded in the counter as against an average daily volume of 1.01 lakh shares in the past one quarter.

The stock hit a low of Rs 426.65 and a low of Rs 410.50 so far during the day. The stock had hit a 52-week high of Rs 871 on 8 September 2010 and a 52-week low of Rs 402.10 on 28 February 2011 NRI Demat Account.

The mid-cap stock had underperformed the market over the past one month till 27 July 2011, declining 4.05% compared with the Sensex’s return of 0.11%. The scrip had also underperformed the market in past one quarter, falling 22.50% as against 5.23% decline in the Sensex.

The company has an equity capital of Rs 72.16 crore. Face value per share is Rs 10.

BGR Energy Systems said it is confident of registering a significant growth in its sales income from revenues coming in from engineering, procurement and construction (EPC) and balance of plants (BoP) orders at hand in the current year itself. The company hopes to secure major orders in response to its bids for projects worth Rs 37000 crore, comprising mandates for the supply of BTG, gas and coal based EPC and BoP projects, representing a capacity of 19700 megawatts NRI Share Trading Account.

With coal linkage and environmental issues heading for resolution, contract awards for capacity addition from both the IPP and public sector segments is set to significantly increase in the current financial year, the company said. It added that the company is well positioned to service this demand and thereby capture a substantial market share.


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