Kalindee Rail Nirman gains on preferential allotment plan

Kalindee Rail Nirman (Engineers) rose 3.51% to Rs 60.40 at 10:35 IST on BSE after the company said its board will meet on 11 July 2013, to consider raising funds through preferential allotment of equity, or warrants.

The announcement was made after market hours on Monday, 8 July 2013.

Meanwhile, the S&P BSE Sensex was up 126.96 points, or 0.66%, to 19,451.73.  On BSE, 8,892 shares were traded in the counter as against an average daily volume of 33,819 shares in the past one quarter.

The stock hit a high of Rs 61.70 and a low of Rs 59.80 so far during the day. The stock had hit a 52-week high of Rs 111.70 on 13 December 2012. The stock had hit a 52-week low of Rs 44.15 on 28 March 2013.

The stock had outperformed the market over the past one month till 8 July 2013, rising 0.34% compared with the Sensex’s 0.54% fall. The scrip had also outperformed the market in past one quarter, rising 15.43% as against Sensex’s 4.81% rise.

The small-cap company has an equity capital of Rs 12.40 crore. Face value per share is Rs 10.

Kalindee Rail Nirman (Engineers) reported net loss of Rs 1.29 crore in Q4 March 2013 as against net profit of Rs 0.03 crore in Q4 March 2012. Net sales declined 2.36% to Rs 62.82 crore in Q4 March 2013 over Q4 March 2012.

Kalindee Rail Nirman (Engineers) executes railway track, signaling & telecommunication projects on turn key basis.