Surana Telecom rings on buy back plan

Surana Telecom jumped 19.96% to Rs 32.75 at 12:11 IST on BSE after the company said it has scheduled a board meet on 22 April 2008 to consider buy back of equity shares.

The stock hit a high of Rs 32.75 and a low of Rs 27.80 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 11.30 crore. Face value per share is Rs 5.

The current price of Rs 32.75 discounts its Q3 December 2007 EPS of Rs 4.11, by a PE multiple of 7.97.

Surana Telecom’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.