Moser Baer slips

Moser Baer slips

Moser Baer India slipped 0.61% to Rs 188 at 9:59 IST on BSE, after the company said it plans a 600 megawatt thin film photovoltaic capacity with an estimated investment of over $1.5 billion.

The company made this announcement before trading hours today, 11 February 2008.

Meanwhile, BSE Sensex was down 374.02 points or 2.14% to 17,090.87, as poor debut of Reliance Power hit market sentiment.

On BSE, 1,610 shares were traded in the counter. The scrip had an average daily volume of 1.27 lakh shares in the past one quarter.

The stock hit a high of Rs 193.90 and a low of Rs 186 so far during the day. The stock had a 52-week high of Rs 344.80 on 3 January 2008 and a 52-week low of Rs 177 on 22 January 2008.

The mid-cap scrip had underperformed the market over the past one month till 8 February 2008, declining 37.40% compared to the Sensex’s decline of 15.15%. It had also underperformed the market in the past one quarter, declining 30.37% compared to Sensex’s decline of 7.63%.

The company’s current equity is Rs 168.21 crore. Face value per share is Rs 10.

The company announced that its wholly owned subsidiary PV Technologies India, has signed a memorandum of understanding (MoU) with a leading global equipment supplier to secure supply of critical equipment for a 565 megawatt (MW) phased expansion of its thin film photovoltaic modules manufacturing capacity, which together with the current project capacity of 40 MW will take the total manufacturing capacity to over 600 MW by 2010.

Moser Baer India reported a net loss of Rs 20.45 crore in Q3 December 2007 as compared to net profit of Rs 37.62 crore in Q3 December 2006. Net sales rose 2% to Rs 511.66 crore in Q3 December 2007 over Q3 December 2006.

The company manufactures storage media for data applications and audio/video applications. It is India's second largest manufacturer of IT & entertainment peripherals in terms of sales.