COSYN performs in a fragile market, opens 20 per cent higher
DSIJ Intelligence / 05 Dec 2016
The Asian markets apart from India are also down, the Nikkei 225 opened down 0.58 percent, as South Korea's Kospi slipped 0.18 percent. Meanwhile, COSYN which previously closed at Rs 159.50 opened 20 per cent higher and as at 9.47 am is trading at Rs 187.
COSYN has certainly outperformed on a day when the market has opened cautious on Italian Referendum. The Asian markets apart from India are also down, the Nikkei 225 opened down 0.58 percent, as South Korea's Kospi slipped 0.18 percent. Meanwhile, COSYN which previously closed at Rs 159.50 opened 20 per cent higher and as at 9.47 am is trading at Rs 187.
The shares have largely surged as COSYN informed BSE that the company has bagged an order from West Bengal State Electricity Distribution Company Limited, Kolkata, of the value od Rs 34.44 crores, the duration of the project being three years.
However, the interesting part is the stock of the company has emerged as a multi-bagger. In the last three months, the shares have surged by 265 per cent. In the last one year, the scrip has rallied over 447 per cent. Fifty-two-week high/low stands at Rs 187/29.75.
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