Refrigerant gases maker Gujarat Fluorochemicals jumped 7.77% to Rs 192.90 at 10:43 IST on BSE after the company’s board of directors approved buyback at a price not exceeding Rs 300 per share
The company made this announcement in its meeting held on
The stock hit a high of Rs 204.65 and a low of Rs 186.10 so far during the day. The stock had a 52-week high of Rs 400 on
The company’s current equity is Rs 11.58 crore. Face value per share is Rs 1. Promoters hold 66.45% stake in the company (as at end December 2007).
The current price of Rs 192.90 discounts Q3 December 2007 annualized EPS of Rs 28.44, by a PE multiple of 6.78.
Gujarat Fluorochemicals’ net profit rose 39.1% to Rs 82.34 crore on 27.2% growth in net sales to Rs 196.68 crore in Q3 December 2007 over Q3 December 2006.
The company has set aside a maximum Rs 61.43 crore for buyback plan.
The company’s board of directors, meanwhile, declared second interim dividend of Re 1 per equity share for the financial year 2007-08.
The company is engaged in manufacturing and selling refrigerant gases. The group operates in three segments namely chemicals, multiplex business and power.
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