Hot Pursuit     24-Aug-12
Alstom India slides after 2-day 5.66% rally
Alstom India lost 1.73% to Rs 396.65 at 11:04 IST on BSE, with the stock sliding on profit taking after 2-day 5.66% rally triggered by the firm securing a contract from Nuclear Power Corporation of India.

Meanwhile, the BSE Sensex was down 73.04 points or 0.41% to 17,777.18.

On BSE, 4,299 shares were traded in the counter as against average daily volume of 23,991 shares in the past one quarter.

The stock hit a high of Rs 405 and a low of Rs 396.20 so far during the day. The stock had hit a 52-week low of Rs 280 on 22 December 2011. The stock had hit a 52-week high of Rs 572 on 8 September 2011.

The stock had outperformed the market over the past one month till 23 August 2012, rising 6.11% compared with the Sensex's 5.76% gain. The scrip had also outperformed the market in past one quarter, jumping 15.15% as against Sensex's 11.93% rise.

The company has equity capital of Rs 67.23 crore. Face value per share is Rs 10.

Shares of Alstom India surged 5.66% in two trading sessions to settle at Rs 403.65 on Thursday, 23 August 2012, from Rs 382 on 21 August 2012, after the company during trading hours on 22 August 2012 said it has secured in consortium with Bharat Heavy Electricals (Bhel) a contract from the Nuclear Power Corporation of India (NPCIL) to supply the turbine generator package for the Rajasthan Atomic Power Project (RAPP) units 7 & 8, located at Rawatbhata in Rajasthan. Parent Alstom's share in the contract is around Rs 700 crore and Alstom India's scope of work would be approximately Rs 46.40 crore, the company said.

Alstom and Bhel will supply, install and commission the turbine generator packages for the power station's two new 700 megawatts (MW) capacity units. The expansion of the existing capacity of the 1,180 (MW) of RAPP nuclear power plant will help meet increasing demand for power in the country, Alstom said in a statement.

Alstom India's net profit jumped 104.4% to Rs 12.88 crore on 57.3% growth in net sales to Rs 439.97 crore in Q1 June 2012 over Q1 June 2011.

Alstom India provides engineering, manufacturing, project management and supply of products and solutions for infrastructure sector.

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