Varun Industries slumped 6.91% to Rs 70 at 9:58 IST on BSE even as the company said on Wednesday, 12 March 2008, it has entered into an agreement with Bangalore based Unique Services for export of iron ore for a period of one year.
The company made this announcement after trading hours on
On BSE, 2,968 shares were traded in the counter. The scrip had an average daily volume of 3.30 lakh shares in the past one quarter.
The stock hit a high of Rs 73.10 and a low of Rs 70 so far during the day. The stock had a 52-week high of Rs 165 on
The company’s current equity is Rs 35 crore. Face value per share is Rs 10.
The current price of Rs 70 discounts its Q3 December 2007 annualized EPS of Rs 7.76, by a PE multiple of 9.02.
Unique Services holds mining rights for iron ore in Karnataka state and it has expertise in mining activities.
On
Varun Industries reported a net profit of Rs 4.29 crore on net sales of Rs 248.59 crore in Q3 December 2007. Figures of the previous corresponding year period were not available.
Mumbai-based Varun Industries is an exporter of stainless steel kitchenware, tableware, pet ware and other utility items. The company has its manufacturing plant and warehouse at Vasai, near Mumbai.
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