RCF poor Q3 numbers

RCF inches ahead despite poor Q3 numbers

Rashtriya Chemicals & Fertilizers rose 0.33% to Rs 91.50 at 11:45 IST on BSE despite posting 6.9% decline in net profit to Rs 60.12 crore in Q3 December 2007 over Q3 December 2006.

The company announced the results after market hours on Monday, 28 January 2008. Ahead of the results, the scrip had hit a 5% upper circuit on that day.

BSE Sensex was up 61.30 points or 0.34% to 18,214.08 as Asian markets edged higher tracking overnight gains in US stocks..

On BSE, 4.56 lakh shares were traded in the counter. The stock had an average daily volume of 12.58 lakh shares in the past one quarter.

The stock hit a high of Rs 95.75 and a low of Rs 86.65 so far during the day. The stock had hit a 52 week high of Rs 150.30 on 7 January 2008 and a 52 week low of Rs 33.50 on 29 March 2007.

The mid-cap scrip had underperformed the market over the past one month till 28 January 2008, declining 18.83% as compared to the Sensex’s fall of 10.17%. It however outperformed the market in the past one quarter, rising 63% as compared to the Sensex’s fall of 8.24%.

The company’s current equity is Rs 551.69 crore. Face value per share is Rs 10.

The current market price of Rs 91.50 discounts its Q3 December 2007 annualised EPS of Rs 4.36 by a PE multiple of 20.98.

Rashtriya Chemicals & Fertilizers (RCF)’s sales rose 46.9% to Rs 1,365.99 crore in Q3 December 2007 over Q3 December 2006.

RCF is engaged in manufacturing and distributing fertilizers and chemicals. The industrial products include methanol, methylamines, sodium nitrate, ammonium nitrate melt, ammonium bi-carbonate and others.

(BUYT SOME INVESTORS ARE ACCUMULATING THIS SHARE FOR UN KNOWN REASONS)