1. Low beta stock suddenly gears into action: Swan Energy shares soar over 60% in 4 days

Low beta stock suddenly gears into action: Swan Energy shares soar over 60% in 4 days

The company is engaged in trading in fabric as well as in development of properties.

By: | New Delhi | Updated: October 5, 2016 3:38 PM
BSE Sensex, NSE Nifty, Swan Energy Swan Energy shares are hogging limelight on D-Street this week as the scrip of the company has risen 63.50 per cent in the past four trading sessions till October 5.

Swan Energy shares are hogging limelight on D-Street this week as the scrip of the company has risen 63.50 per cent in the past four trading sessions till October 5. The scrip jumped to Rs 96.55 from Rs 59.05 on September 29. During the period, market capitalisation of the company increased to Rs 2,135.49 crore from Rs 1306.07 crore. Promoters hold around 71.66 per cent stake in the company while Institutions and non-institutions held 12.82 per cent and 15.52 per cent, respectively.

On Wednesday, the scrip opened the day at Rs 87.80 and hit a new 52-week high Rs 96.55 during the day.

For the latest quarter ended June 30, 2016, the company reported a net loss of Rs 1.88 crore against net profit of Rs 0.07 crore in the same quarter last year. Net sales of the company slipped by 3.19 per cent to Rs 69.58 crore for the quarter under review. It had posted net sales of Rs 71.86 crore in the same quarter last fiscal.

According to reports on September 14, IOC will be ramping up its capacities on the LNG terminals front over the next five years by developing its own assets, buying equity stakes and reserving space. The new LNG terminal capacities will be at Ennore, Dahej, Mundra, Dhamra and Jafrabad where Swan Energy is developing a terminal.

Swan Energy reported a consolidated net loss of Rs 0.19 crore for the financial year ended March 2016 against net profit of Rs 2.73 crore a year ago.

The company is engaged in trading in fabric as well as in development of properties. Their activity includes manufacturing and marketing of cotton and polyester sarees and shirtings in India. The company also engaged in the business of textiles and property development.

 

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