PTL Enterprises shifts gear after setting record date for stock split

PTL Enterprises shifts gear after setting record date for stock split

PTL Enterprises gained 1.18% to Rs 137 at 11:58 IST on BSE, on setting record date for a 5-for-1 stock split.

Meanwhile, BSE Sensex was up 8.95 points or 0.05% to 18,124.20.

On BSE, 1,988 shares were traded in the counter. The scrip had an average daily volume of 16,881 shares in the past one quarter.

The stock hit a high of Rs 142 and a low of Rs 136.50 so far during the day. The stock had a 52-week high of Rs 180 on 2 January 2008 and a 52-week low of Rs 84.20 on 2 November 2007.

The small-cap scrip had underperformed the market over the past one month till 15 February 2008, declining 18.01% compared to the Sensex’s decline of 8.05%. It had outperformed the market in the past one quarter, declining 1.49% compared to Sensex’s decline of 8.04%.

The company’s current equity is Rs 13.24 crore. Face value per share is Rs 10.

The current price of Rs 137 discounts its Q3 December 2007 annualized EPS of Rs 7.13, by a PE multiple of 19.21.

The company has fixed 3 March 2008 as the record date for a 5-for-1 stock split. The company made the announcement of the record date during market hours today, 18 February 2008.

PTL Enterprises’ net profit rose 1080% to Rs 2.36 crore on 76.6% growth in total income to Rs 6.71 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing automobile tyres, flaps and belts. Its manufacturing unit is located at Ernakulam, Kerala.