SEL Manufacturing gains on fund raising plan

SEL Manufacturing Company rose 0.91% to Rs 265.35 at 11:15 IST on BSE after the company said its board has approved raising upto $250 million through issue of foreign currency convertible bonds and global depository receipts.

The stock hit a high of Rs 276 and a low of Rs 265 so far during the day. The stock had a 52-week high of Rs 330 on 7 March 2008 and a 52-week low of Rs 76.65 on 22 October 2007.

The company’s current equity is Rs 15.22 crore. Face value per share is Rs 10.

The current price of Rs 265.35 discounts its Q3 December 2007 EPS of Rs 35.80, by a PE multiple of 7.41.

SEL Manufacturing Company’s net profit rose 236.3% to Rs 13.62 crore on 103.2% 99.87 crore in Q3 December 2007 over Q3 December 2006.

SEL Manufacturing Company manufactures and exports knitted garments, fabrics and combed and carded yarn.