Tuesday, March 11, 2008

Celebrity Fashions spurts on unit sale buzz

Celebrity Fashions surged 7.84% to Rs 41.25 at 11:03 IST on BSE on reports the company may sell an export unit to a Bangalore-based firm for Rs 42.5 crore.

Meanwhile, BSE Sensex was up 102.57 points or 0.64% to 16,026.29.

On BSE, 2,600 shares were traded in the counter. The scrip had an average daily volume of 32,356 shares in the past one quarter.

The stock hit a high of Rs 42.05 and a low of Rs 40 so far during the day. The stock had a 52-week high of Rs 91.70 on 23 July 2007 and a 52-week low of Rs 36.65 on 10 March 2008.

The company’s current equity is Rs 17.83 crore. Face value per share is Rs 10.

The current price of Rs 41.25 discounts Q3 December 2007 annualized EPS of Rs 22.45 by a PE multiple of 6.59.

Celebrity Fashions reported a net loss of Rs 1.27 crore in Q3 December 2007 as compared to net loss of Rs 1.50 crore in Q3 December 2006. Sales declined 2% to Rs 86.58 crore in Q3 December 2007 over Q2 December 2006.

Celebrity Fashions designs, manufactures and sells men's garments. It not only caters to leading international brands, but also owns a domestic brand, Indian Terrain.

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