A2Z Infra Engineering shares surged as much as 7.13 per cent in early trade on Monday after the company informed bourses that it has bagged an order worth Rs 96 crore from Jharkhand Urja Sancharan Nigam (JUSNL). The order is for design, engineering, supply, erection, testing and commissioning on turnkey basis of deposit work of SAIL. At 10.10 am, shares of the company were trading 30.85 points up at 28087.25. The scrip opened the day at Rs 38.40 and had touched a high and low of Rs 39.05 and Rs 37.85, respectively, in trade so far. Later, the scrip closed 4.94 per cent up at Rs 38.25.
For the quarter ended June 30, 2016, the company reported a net loss of Rs 18.75 crore, up 45.18 per cent, against net loss of Rs 34.21 crore in the corresponding quarter a year ago. Net sales of the company increased by 148.53 per cent year-on-year to Rs 202.70 crore for the quarter under review. It had posted a net sales of Rs 81.56 crore in the same quarter last fiscal.
In the past one year, shares of the company have risen 46.39 per cent to Rs 36.45 till October 7, whereas BSE Sensex gained 60.28 per cent during the same period.
The company is primarily engaged in providing engineering, procurement and construction (EPC) services in power transmission and distribution sector with focus on distribution. It also forayed in the renewable energy generation business through by setting up three biomass-based power plants (15 MW each) in Punjab in collaboration with sugar mills on Built Own Operate and transfer (BOOT) basis.