Prime Securities hammered after disclosing losses in F&O
Prime Securities plunged 4.97% to Rs 87.95 at 14:12 IST on BSE after the firm said it incurred a loss about to Rs 3 crore in the futures and options segment and had made a provision of Rs 23 crore for 2007/08 towards depletion in value of securities.
The stock hit a high of Rs 87.95 and a low of Rs 87.95 so far during the day. The stock had a 52-week high of Rs 345.05 on
The company’s current equity is Rs 12.23 crore. Face value per share is Rs 5.
The current price of Rs 87.95 discounts its Q3 December 2007 annualized EPS of Rs 43.70, by a PE multiple of 2.01.
Prime Securities’ net profit rose 323.5% to Rs 26.81 crore on 351.5% growth in net sales to Rs 36.75 crore in Q3 December 2007 over Q3 December 2006.
The company expects profit before tax for the current year to be Rs 27 crore after the write-off of investment, Prime Securities said.
Prime Securities deals in financial instruments such as shares, bonds, units, securities, and also provides merchant banking advisory services, issue management services and other fund-based investments.
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