Rolta India >buying by funds

Rolta India down 0.38% to Rs 291.50 at 15:42 IST on BSE, having recovered from session's low of Rs 275.35 after the company said foreign funds FMR LLC and FIL have acquired a further 0.13% stake in the company to raise their total holding to 5.04%.

On BSE, 1.66 lakh shares were traded in the counter. The scrip had an average daily volume of 2.48 lakh shares in the past one quarter.

The stock hit a high of Rs 294.70 far during the day. The stock had a 52-week high of Rs 390 on 10 December 2007 and a 52-week low of Rs 143.50 on 6 March 2007.

The mid-cap scrip had outperformed the market over the past one month till 5 March 2008, declining 7.38% compared to the Sensex’s fall of 11.37%. It had underperformed the market in the past one quarter, declining 19.67% compared to Sensex’s decline of 16.44%.

The company’s current equity is Rs 160.52 crore. Face value per share is Rs 10.

The current price of Rs 291.50 discounts Q2 December 2007 annualized EPS of Rs 33.95 by a PE multiple of 8.59.

Rolta India’s net profit rose 10.80% to Rs 68.02 crore on 9.80% growth in net sales to Rs 212.29 crore in Q2 December 2007 over Q1 September 2007.

Rolta provides IT-based solutions and services to the geospatial and engineering segments. Unlike most Indian IT firms, Rolta derives 60% of its revenues from the domestic market. This enables it to mitigate currency risks.