Pratibha Industries wins buyers with new order in its kitty

Pratibha Industries gained 1.12% to Rs 315 at 10:53 IST on BSE on securing a contract worth Rs 53.81 crore from Municipal Corporation of Greater Mumbai for construction of 900 million litres a day capacity water pumping station at Bhandup.
The company made this announcement during market hours today, 5 March 2008.
Meanwhile, BSE Sensex was up 65.40 points or 0.40% to 16,405.29, as expectations of a US interest rate cut strengthened.
On BSE, 1,442 shares were traded in the counter. The scrip had an average daily volume of 18,387 shares in the past one quarter.
The stock hit a high of Rs 319.95 and a low of Rs 252 so far during the day. The stock had a 52-week high of Rs 469.80 on 2 January 2008 and a 52-week low of Rs 141.10 on 8 March 2007.
The small-cap scrip had underperformed the market over the past one month till 4 March 2008, declining 17.85% compared to the Sensex’s fall of 12.44%. It had outperformed the market in the past one quarter, declining 13.66% compared to Sensex’s decline of 17.22%.
The company’s current equity is Rs 16.69 crore. Face value per share is Rs 10.
The current price of Rs 315 discounts Q3 December 2007 annualized EPS of Rs 26.51 by a PE multiple of 11.88.
The company has secured the latest order in joint venture with Kirloskar Brothers. The project is to be executed within 30 months.
In November 2007, Pratibha Industries secured contract worth Rs 49.49 crore from Jammu & Kashmir Economic Reconstruction Agency.
Pratibha Industries’ net profit rose 69.1% to Rs 11.06 crore on 81.3% growth in net sales to Rs 149.52 crore in Q3 December 2007 over Q3 December 2006.
The company is engaged in constructing buildings and infrastructure development projects. It designs and constructs integrated water transmission including treatment, re-cyclanation, storage and distribution projects, water treatment plants, elevated and underground reservoirs, mass housing including real estate projects, commercial complexes, precast design and construction and road construction services.