CapitalMarket.com - Tecpro Systems spurts on pact with US firm for overland conveyor projects
Hot Pursuit Friday, July 01, 2011 10:21 Hrs IST

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Tecpro Systems spurts on pact with US firm for overland conveyor projects

Tecpro Systems soared 5.66% to Rs 265 at 10:19 IST on BSE, after the company said it has entered into an agreement with Advanced Conveyor Technologies of USA to exclusively co-operate on overland conveyor projects in India.

The company made this announcement after market hours on Thursday, 30 June 2011.

Meanwhile, the BSE Sensex was up 76.49 points, or 0.41%, to 18,922.36.

On BSE, 12,010 shares were traded in the counter as against an average daily volume of 14,272 shares in the past one quarter.

The stock hit a high of Rs 269 and a low of Rs 254.40 so far during the day.

The company has an equity capital of Rs 50.47 crore. Face value per share is Rs 10.

Tecpro Systems said both the firms--Advanced Conveyor Technologies (AC-Tek) and the company will collaborate on projects involving the design, supply and installation of an overland conveyor. The overland conveyor designs will be furnished by AC-Tek whereas the supply and construction of the overland conveyor will be furnished by Tecpro Systems, the company said in a filing with BSE.

AC-Tek is a global leader in the design of overland conveying systems. The company will provide the latest in conveyor technology and engineering expertise.

Tecpro Systems' net profit rose 20.7% to Rs 109.74 crore on 30.8% surge in net sales to Rs 960.90 crore in Q4 March 2011 over Q4 March 2010.

Tecpro Systems is an engineering, procurement and construction (EPC) firm providing a range of services in material handling to steel, cement, ports, mining, and other industries in infrastructure sector and coal handling and ash handling and balance of plant (BoP) packages for power sector.

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