Gandhi Special Tubes >record date for stock split

Gandhi Special Tubes declined 4.13% to Rs 195 at 14:05 IST on BSE after the company fixed record date for a 2-for-1 stock split.

Meanwhile, BSE Sensex was up 200.67 points or 1.13% to 18,006.86, on positive cues from the global markets. Asian stocks surged today after weak US economic data and comments from a Federal Reserve official signaled that US interest rates will continue to head lower. Fed Vice Chairman Donald Kohn said on Tuesday, 26 February 2008, that a weak US economy was a bigger worry than higher inflation risks.

On BSE, 790 shares were traded in the counter. The scrip had an average daily volume of 4,838 shares in the past one quarter.

The stock hit a high of Rs 203 and a low of Rs 195 so far during the day. The stock had a 52-week high of Rs 270 on 31 December 2007 and a 52-week low of Rs 121.15 on 16 June 2007.

The small-cap scrip had underperformed the market over the past one month till 26 February 2008, declining 7.76% compared to the Sensex’s decline of 1.91%. It had outperformed the market in the past one quarter, gaining 19.65% compared to Sensex’s decline of 5.98%.

The company’s current equity is Rs 7.35 crore. Face value per share is Rs 10.

The current price of Rs 195 discounts its Q3 December 2007 annualized EPS of Rs 29.82, by a PE multiple of 6.54.

The company has fixed 26 March 2008 as the record date for a 2-for-1 stock split. The company made the announcement of the record date during market hours today, 27 February 2008.

Gandhi Special Tubes’ net profit rose 97.8% to Rs 5.48 crore on 50.3% growth in net sales to Rs 21.61 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing and marketing seamless and welded steel tubes. The company operates in three segments namely steel tubes, wind power and others.