Finolex Industries advanced 6.52% to Rs 76.80 at 10:27 IST on BSE on reports the company is likely to sell its 78-acre of land at Chinchwad near Pune to a Pune based developer for Rs 350 crore to Rs 400 crore.
The stock hit a high of Rs 78.70 and a low of Rs 74.40 so far during the day. The stock had a 52-week high of Rs 126.25 on
The company’s current equity is Rs 124.03 crore. Face value per share is Rs 10.
The current price of Rs 76.80 discounts its Q3 December 2007 annualised EPS of Rs 6.96, by a PE multiple of 11.03.
The company reported 5.70% fall in net profit to Rs 21.57 crore on 38.80% rise in net sales to Rs 408.88 crore in Q3 December 2007 over Q3 December 2006.
Finolex Industries manufactures and markets polyvinyl chloride, pipes, fittings and related products
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