Federal-Mogul Goetze (India) plans rights issue

Federal-Mogul Goetze (India) soared 6.85% to Rs 71 at 14:04 IST on BSE after the company said its board will meet on 24 April 2008 to consider rights issue of equity shares.

The stock hit a high of Rs 74 and a low of Rs 67.65 so far during the day. The stock had a 52-week high of Rs 269.75 on 8 May 2007 and a 52-week low of Rs 50.65 on 25 March 2008.

The company’s current equity is Rs 32.62 crore. Face value per share is Rs 10.

Federal-Mogul Goetze (India) reported a net loss of Rs 15.57 crore in Q4 December 2007 as compared to net loss of Rs 12.18 crore in Q4 December 2006. Net sales rose 15.7% to Rs 154.90 in Q4 December 2007 over Q4 December 2006.

The company is engaged in manufacturing auto components. The products include piston rings, sintered parts and cylinder liners for two, three and four wheelers, cars, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines.