Zodiac-JRD-MKJ in demand

Zodiac-JRD-MKJ in demand

Zodiac-JRD-MKJ surged 12.19% to Rs 45.10 on BSE at 15:15 IST after the company said a meeting will be held on 4 March 2008 for considering record valuation report of scheme of amalgamation with MKJ Jewellery.

The company made this announcement before trading hours today, 25 February 2008.

Meanwhile, BSE Sensex was up 293.49 points or 1.69% to 17,642.56.

On BSE, 1.11 lakh shares were traded in the counter. The scrip had an average daily volume of 17,261 shares in the past one quarter.

The stock hit a high of Rs 47.70 and low of Rs 40.55 so far during the day. The stock had a 52-week high of Rs 62.40 on 8 January 2008 and a 52-week low of Rs 24 on 24 August 2007.

The small-cap scrip had outperformed the market over the past one month till 22 February 2008, gaining 28.03% compared to the Sensex’s return of 0.74%. It had also outperformed the market in the past one quarter, gaining 34% compared to Sensex’s decline of 7.98%.

The company’s current equity is Rs 4.05 crore. Face value per share is Rs 10.

The current price of Rs 45.10 discounts its Q3 December 2007 annualized EPS of Rs 3.65, by a PE multiple of 12.36.

Zodiac-JRD-MKJ’s net profit rose 42.3% to Rs 0.37 crore on 11.3% growth in net sales 2.56 crore in Q3 December 2007 over Q3 December 2006.

The company's principal activity is to polish and market diamonds and jewellery. It markets cut and polished diamonds, precious and semi precious stones and polished diamonds for jewellery.