Sunil Hitech spurts on new order win

MUMBAI (makemystocks): Sunil Hitech Engineers Ltd (BOM:532711) today announced that it has bagged several orders worth Rs 1.74 billion in the first quarter of financial year 2010-11. The shares of the company rose to 2.45 per cent from the previous close, on the Bombay Stock Exchange (BSE).

The company's order book position at the end of June was Rs 18.9 billion. This will be executed over a period of 24-36 months.

Recently the company disclosed fall of 230.68% in standalone net profit on y-o-y basis to Rs 40.11 million, while total income fell 14.76% y-o-y basis to Rs 1.79 billion for the quarter ended March 2010.

The stock had underperformed the market in past one quarter, declining 9.71% as against 3.03% rise in the Sensex.