Aksh Optifibre in demand after new initiative

Aksh Optifibre hit 5% upper circuit at Rs 44.40 at 15:09 IST on BSE after it signed a 3-year agreement with Eros for distributing its movie content for its IPTV services with Mahanagar Telephone Nigam.

The stock hit a high of Rs 44.40 and a low of Rs 42.60 so far during the day. The stock had a 52-week high of Rs 96 on 3 January 2008 and a 52-week low of Rs 36 on 23 August 2007.

The company’s current equity is Rs 27.15 crore. Face value per share is Rs 5.

The current price of Rs 44.40 discounts Q1 December 2007 annualised EPS of Rs 0.09 by a PE multiple of 493.33.

Aksh Optifibre on 24 March 2008 in association with MTNL had launched the IPTV services - IPTV-Aksh-Tel in Mumbai and video phone calling services, V Spyk services in Mumbai and Delhi.

The service will offer traditional television broadcast with a high standard reception and several add on features like time-shift television, video on demand and video phone calling services between two users enabling real time calling at a personalized level over the broadband network of MTNL.

Aksh Optifibre produces variety of cables such as single-mode, multi-mode, duct, armoured, aerial, indoor and outdoor. It also has facilities to produce ribbon fibre optic cables.