DMC International climbs on acquisition

DMC International climbs on acquisition

DMC International rose 3.61% to Rs 21.55 at 10:48 IST on BSE after its group company Swen Realty & Media entered into an agreement with Global Infocom to acquire an online portal.

The company announced this before market hours on Monday, 18 January 2008.

Meanwhile, BSE Sensex was down 45.71 points or 0.25% to 18,069.

On BSE, 16,025 shares were traded in the counter. The scrip had an average daily volume of 2.45 lakh shares in the past one quarter.

The stock hit a high of Rs 21.80 and a low of Rs 21 so far during the day. The stock had a 52-week high of Rs 51.90 on 3 January 2008 and a 52-week low of Rs 17.55 on 30 April 2007.

The small-cap real estate firm had underperformed the market over the past one month till 15 February 2008, declining 41.65% compared to the Sensex’s decline of 8.05%. It had also underperformed the market in the past one quarter, declining 20.46% compared to Sensex’s decline of 8.04%.

The company’s current equity is Rs 3.85 crore. Face value per share is Rs 5.

The current price of Rs 21.55 discounts its Q3 December 2007 annualized EPS of Rs 3.38, by a PE multiple of 6.37.

"Jaaydaad.com", is a leading real estate network in the country.

DMC International further said Swen Realty & Media is set to be amalgamated with DMC International pursuant to a scheme of arrangement for amalgamation of Swen Realty & Media with DMC International and reduction of capital of DMC International.

DMC International’s net profit declined 10% to Rs 0.63 crore on 73% rise in sales to Rs 2.56 crore in Q3 December 2007 over Q3 December 2006.

DMC International is engaged in real estate development.