New order powers ICSA India

New order powers ICSA India

ICSA India rose 0.64% to Rs 455.05 at 15:13 IST on BSE after the company secured an order worth Rs 43.97 crore.

The company made this announcement during trading hours today, 22 February 2008.

Meanwhile, BSE Sensex was down 363.50 points or 2.05% to 17,371.18 as US and Asian stock markets fell on heightened fears of a US recession.

On BSE, 1.41 lakh shares were traded in the counter. The scrip had an average daily volume of 1.57 lakh shares in the past one quarter.

The stock hit a high of Rs 469.50 and low of Rs 442.25 so far during the day. The stock had a 52-week high of Rs 648 on 28 December 2007 and a 52-week low of Rs 184.60 on 7 March 2007.

The mid-cap scrip had outperformed the market over the past one month till 21 February 2008, rising 4.64% compared to the Sensex’s return of 0.80%. It had also outperformed the market in the past one quarter, rising 37.89% compared to Sensex’s decline of 5.93%.

The company’s current equity is Rs 8.8 crore. Face value per share is Rs 2.

The current price of Rs 455.05 discounts its Q3 December 2007 annualized EPS of Rs 35.01, by a PE multiple of 12.99.

The order is from Northern Power Distribution Company of AP, Andhra Pradesh.

ICSA India is engaged in providing software development services and technology solutions for the power, telecommunication and other sectors. The company also provides rural electrification, construction of sub-stations and conversion of LT line to HT lines.

ICSA India’s net profit rose 99.8% to Rs 36.24 crore on 99.4% rise in sales to Rs 189.14 crore in Q3 December 2007 over Q3 December 2006.