The stock of Consolidated Construction Consortium was up by 6.4 per cent at Rs 580 over the fortnight to August 4. Average volumes were also up by about 30 per cent over that in the previous fortnight. The stock has recovered sharply by 24 per cent, after touching a 52-week low on July 9. It is nowatRs5l0- apremiumofl4per cent to its issue price. The company raised about Rs 189 crore from the primary market in September last year, with the stock price closing at Rs 791 on its debut (October 15). The company is an integrated player in the construction business, offering services in the industrial, commercial, infrastructure and residential sectors. In FY08, the company reported a robust financial performance. Net sales jumped 50 per cent y-o-y to Rs 1,448 crore and operating profit more than doubled to Rs 136 crore. Net profit increased by 89 per cent to Rs 87 crore. The company has maintained the scorching pace in the June 2008 quarter when net sales grew 41 per cent to Rs 380 crore and operating profit increased 32 per cent to Rs 29 crore. Net profit was up nine times to Rs 18 crore.
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