Jan 10: Nashik-based Prakash Constrowell Ltd (BSE: 533605, NSE: PRAKASHCON) is gaining on the strength of its 19 ongoing construction projects mainly in the public sector. The scrip has risen 4.09% to Rs 8.90 in morning trade on Tuesday.
The company was set up in 1978 with the objective to execute construction projects for the public sector and businesses. Trichur Ganpat Krishnan with over 49 years of professional experience is the Managing Director while Prakash Pusaram Laddha is the Director with over three decades of experience in construction industry.
The net profit for the September quarter fell 53.83% to Rs 1.74 cr while sales fell 33.43% to Rs 30.08 cr.
On technical charts, RSI of 76,49 indicates bullish overbought conditions, while MACD has witnessed a bullish crossover signalling buy and ADX of 27,84 indicates range bound trading.