S Kumars Nationwide tumbles

S Kumars Nationwide tanked 25.80% to Rs 84.80 at 12:34 IST on BSE on sustained selling pressure

The stock hit a high of Rs 118.80 and a low of Rs 79.10 so far during the day. The stock had a 52-week high of Rs 177.90 on 16 November 2007 and a 52-week low of Rs 65 on 20 March 2007.

The company’s current equity is Rs 202.16 crore. Face value per share is Rs 10. Promoters hold 44.51% stake in the company (as at end December 2007).

The current price of Rs 84.80 discounts its Q3 December 2007 annualized EPS of Rs 11.32, by a PE multiple of 7.49.

S Kumars Nationwide had posted 72.70% rise in net profit to Rs 57.20 crore on 44.20% growth in net sales to Rs 453.07 crore in Q3 December 2007 over Q3 December 2006.

The S Kumars Nationwide stock plunged 24.46% in three trading sessions to Rs 114.25 on 19 March 2008 from Rs 151.25 on 14 March 2008 on selling pressure from foreign institutional investors. Foreign institutional investor, LB India Holdings Cayman II sold 46.05 lakh shares at Rs 145.60 each in a block deal on Bombay Stock Exchange on 17 March 2008. Another foreign institutional investor BSMA offloaded 26.37 lakh shares at Rs 147.10 per share of the company in a block deal on National Stock Exchange on 17 March 2008. Total foreign holding in the company is 34.06% (as at end December 2007). Morgan Stanley Dean Witter was the buyer in both these block deals.

S Kumars Nationwide is manufactures and markets synthetic textiles. The company’s business segments include consumer textiles, home textiles, worsted suitings & ready to wear solutions.