Stone India chugs along
By
Research Desk
about 8 years ago
Stone India is on the run today! The stock opened 8% higher at Rs.80, going up 13% to Rs.83.90. Its 52-week high stands at Rs.105.40.
The reason for this euphoria – the company announced that it has bagged on April 20, 2016 an order for supply & installation of 9090 units of Bio-Toilets to Govt. of Chattisgarh. The value of this order is Rs.29 crore and it is the single largest order of Bio Toilets for Stone India.
This order is much required given the fact that its financial performance has been so lackluster. It had ended Q3FY16 with a net loss at Rs.2 crore v/s loss of Rs.2.23 crore in previous Q3.