Accentia Technologies hardens after US tie-up

Accentia Technologies hardens after US tie-up

Accentia Technologies rose 0.85% to Rs 183 at 12:13 IST on BSE, on entering into a strategic partnership with five leading hospitals in USA through Oak Technologies Inc, USA, to provide end-to-end health care receivables cycle management.

The company made this announcement during market hours today, 20 February 2008.

Meanwhile, BSE Sensex was down 401.85 points or 2.22% to 17,673.81, on weak cues from the global markets.

On BSE, 7,530 shares were traded in the counter. The scrip had an average daily volume of 37,523 shares in the past one quarter.

The stock hit a high of Rs 190.50 and a low of Rs 182 so far during the day. The stock had a 52-week high of Rs 277.55 on 2 January 2008 and a 52-week low of Rs 52.30 on 8 March 2007.

The small-cap scrip had underperformed the market over the past one month till 19 February 2008, declining 18.12% compared to the Sensex’s return of 2.67%. It had also underperformed the market in the past one quarter, declining 5.37% compared to Sensex’s decline of 2.83%.

The company’s current equity is Rs 5.01 crore. Face value per share is Rs 10.

The current price of Rs 183 discounts its Q2 September 2007 annualized EPS of Rs 5.81, by a PE multiple of 24.11.

Oak Technologies is engaged in the development and implementation of software and services for leading hospitals and health care organizations to provide ongoing product and support services.

Accentia Technologies’ net profit on a consolidated basis rose 26.31% to Rs 10.37 crore on 20.63% growth in net sales to Rs 34.5 crore in Q3 December 2007 over Q2 September 2007.

Accentia Technologies is a forerunner in both software and business process outsourcing (BPO) industries. It caters to all the requirements of the information technology (IT) industry with special emphasis on transcription services, medical billing and coding, insurance claim processing, consultancy services etc.