Sunil Hitech Engineers :- creating waves on the street

Sunil Hitech Engineers is buzzing on bourses with the stock gaining by almost 18 per cent on an intraday basis on Tuesday. The stock is trading at Rs 217 per share at 10.40 am, up by almost Rs 32 per share. At current price i.e 217 the stock is trading above its 200 day SMA indicating bullishness in the scrip. The 52 week high for the stock is Rs 344 per share. 

The stock saw spurt in volumes with almost 490241 shares exchanging hands on NSE. The last 5 days average volume has been 50239 only. The stock has underperformed over a 1 year period with the stock delivering negative returns of 13 per cent.

Sunil Hi Tech Engineers Limited (SHEL) is a major engineering, procurement & construction (EPC) Company in India. 
Infrastructure related stocks are showing good amount of traction with cement sector doing well and a broader theme being played out in markets betting on the revival in the infra sector.

The current government's thrust and focus on building roads with almost 30 kms of road being built on a daily basis across India, this initiative augurs well for the sector and has helped built the momentum in the sector.