The company, as the name suggest, is engaged in installation, commissioning of signaling and telecommunication projects and execution of gauge conversion projects for Indian Railways.
The stock has been one of the biggest gainers in yesterday’s trade. It closed at Rs.147, up 16%. And be it the oncoming Railway Budget or rumours of L&T hiking its stake, there seems to be a kind of buzz surrounding the company.
About The Results
Financially, the going has not been very good for third quarter ended
In Nov 08’, L&T Capital acquired an additional 8.3% in the company, raising its stake to 13.93%. Promoters hold 23.57% stake while institutions and bodies corporate together hold 48.18%. The Board of the company is meeting today to consider the issue of raising further capital through GDR / FCCB / convertible warrants route. So market was agog with rumours that it might sell its stake to raise funds.
On 2nd Dec 08’, the company bagged an order from for track work contract from Delhi Airport Express line, valued Rs.99.99 crore. It also received another work order of Rs.7.66 crore from RVNL,
About The stock
Options available in the market are more attractive rather then investment to be made in this stock.
Disclaimer : I do not have any personal holding in this stock.