Surana Telecom gains ahead of board meet on buyback

Surana Telecom rose 4.07% to Rs 38.40 at 13:37 IST on BSE ahead of its board meeting today to consider the proposal of buy back of equity shares.

The stock hit a high of Rs 39.50 and a low of Rs 37 so far during the day. The stock had a 52-week high of Rs 52.50 on 1 January 2008 and a 52-week low of Rs 20.75 on 24 March 2008.

The company’s current equity is Rs 11.3 crore. Face value per share is Rs 5.

The current price of Rs 38.40 discounts its Q3 December 2007 EPS of Rs 4.11, by a PE multiple of 9.34.

Surana Telecom’ & Power' s net profit declined 7.9% to Rs 2.32 crore on 26.5% fall in net sales to Rs 15.37 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing heat-shrinkable jointing kits, cable splicing/filling compounds, jelly filled telecommunication cables, wire connectors, end caps, modular connectors and high-density polyethylene (HDPE) pipe.