Thursday, May 15, 2008

Flawless Diamond shines on export order

Flawless Diamond India surged 4.23% to Rs 68.95 at 12:59 IST on BSE after the company said it has received two orders worth Rs 67 crore from Jewelmax Company, Hong Kong and Fine Jewellery, Hong Kong.

The stock hit a high of Rs 69.85 and a low of Rs 66.90 so far during the day. The stock had a 52-week high of Rs 144 on 17 December 2007 and the stock hit a 52-week low of Rs 53.10 on 10 March 2008.

The company’s current equity is Rs 16.68 crore. Face value per share is Rs 10.

The current price of Rs 68.95 discounts its Q4 March 2008 annualised EPS of Rs 20.29, by a PE multiple of 3.40.

In March 2008, Flawless Diamond India received an export order worth Rs 38 crore from Madrid Impex FEZ, Dubai.

In January 2008, the company bagged an export order worth Rs 32.10 crore for designer jewellery from Fine Jewellery, Hong Kong.

Flawless Diamond India’s net profit rose 141.7% to Rs 8.46 crore on 34% rise in net sales to Rs 159.35 crore in Q4 March 2008 over Q4 March 2007.

The company is engaged in manufacturing and marketing cut and polished diamonds and rough diamonds.

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