Jyoti on the green mile

Jyoti Ltd is on the run today, on the green mile! The stock opened Rs.6 higher, going up to an intra day high of Rs.74 and is now at Rs.72 levels, over 15% higher. Volumes have jumped up from two-week average of 17,000 shares to 69,000 shares being traded today morning.

This sudden spike up of interest on the counter of Jyothi is a reaction to its new order win. The company announced yesterday after market closure that it has won an order worth Rs. 139 crore from DRN Infrastructure, Hubli, Karnataka for design, manufacturing, supply, erection, testing and commissioning of 5 Nos. Metallic Volute Pumps along with allied Mechanical, electrical and instrumentation equipment, 220 KV Sub-Station, Tools-Tackles, Spares for Tubchi Bableshwar Lift Irrigation Scheme under Karnataka Neeravari Nigam Ltd.

The above order consists of design, manufacture, supply, commissioning and testing of 5 Pumps with Discharge of 18,028 Cum/Hr. & Head 190 Meters and 5 Motors of Rating 12 MW each, other electromechanical equipment including SFC Starter and Auxiliary Systems, 220 KV Sub-Station, 220 KV Transmission Line (11 Kms.). etc.

This is good news for a company which had ended Q2FY16 with a net loss of Rs.17 crore, lower than the loss of Rs.23 crore in previous Q2. It has in fact been posting only losses consistently for the past 6 quarters.