Panoramic Universal slips after acquisition

Panoramic Universal declined 0.17% to Rs 60.35 at 14:21 IST on BSE after the company said it has acquired a resort at Panvel near Mumbai.

The stock hit a high of Rs 62.25 and a low of Rs 59.10 so far during the day. The stock had a 52-week high of Rs 178 on 2 January 2008 and a 52-week low of Rs 48.35 on 24 March 2008.

The company’s current equity is Rs 6.48 crore. Face value per share is Rs 5.

The current price of Rs 60.35 discounts its Q3 December 2007 annualized EPS of Rs 11.17, by a PE multiple of 5.40.

Panoramic Universal’s net profit rose 21.86% to Rs 3.62 crore on 11.71% growth in net sales to Rs 9.73 in Q3 December 2007 over Q2 September 2007.

The resort is located on the Panvel-Alibaug-Goa highway, the company said.

Recently, the company made a foray into the world travel and tourism by acquiring a controlling stake in Hi-Flyers Travel Services, which is a travel agency catering to premium corporate and high networth individual (NRI) clients

The company is engaged in software development and hospitality business.