Triton Corp inches up on overseas acquisition buzz

Triton Corp gained 0.53% to Rs 9.50 at 14:10 IST on BSE on reports the firm may acquire a UK-based information technology & telecom services firm.

Meanwhile, BSE Sensex was up 62.19 points or 0.39% to 15,985.91.

On BSE, 1.61 lakh shares were traded in the counter. The scrip had an average daily volume of 2.70 lakh shares in the past one quarter.

The stock hit a high of Rs 9.90 and a low of Rs 9 so far during the day. The stock had a 52-week high of Rs 25 on 13 April 2007 and a 52-week low of Rs 7.98 on 2 August 2007.

The company’s current equity is Rs 10.75 crore. Face value per share is Rs 1.

The current price of Rs 9.50 discounts Q3 December 2007 annualized EPS of Rs 2.59 by a PE multiple of 3.67.

As per recent reports, the target $260 million UK-based company is engaged in the business of wireless data solutions and is also a distributor for mobile product and services in UK.

Triton Corp’s net profit rose 11.55% to Rs 6.47 crore on 37.08% growth in net sales to Rs 42.59 crore in Q3 December 2007 over Q2 September 2007.

The company provides information technology (IT) and IT enabled services and trading. The group undertakes business process outsourcing (BPO) services in the name Saffron Global. It provides services in the United Kingdom and the United States of America.