Omaxe gained 1.33% to Rs 213.50 at 14:09 IST on BSE after the company reported 187.90% surge in net profit to Rs 398.80 crore on 90.20% rise in net sales to Rs 1789.50 crore in the year ended March 2008 over the year ended March 2007.
The stock hit a high of Rs 218.80 and a low of Rs 213 so far during the day. The stock had a 52-week high of Rs 613 on
The company’s current equity is Rs 173.57 crore. Face value per share is Rs 2.
The current price of Rs 213.50 discounts its Q4 March 2007 annualised EPS of Rs 24.09, by a PE multiple of 8.86.
Omaxe posted net profit of Rs 104.52 crore on net sales of Rs 519.14 crore in Q4 March 2008. Figures for the corresponding previous year period were not available. The results were unveiled after trading hours yesterday,
The company said that it has raised Rs 100 crore through private placement of 100 secured non convertible debentures of Rs 1 crore each to LIC Mutual Fund.
As per reports, Omaxe is talking to merchant bankers in
Another media report suggested that the company is entering into power generation by forming a joint venture with Isolux, a Spanish firm to set up a 150 megawatt unit at Ennore near Chennai. Omaxe is expected to hold 51% stake in the joint venture, with Isolux holding the rest.
Omaxe is a real-estate development and construction company. The company focuses on developing residential and commercial real-estate projects ranging from integrated townships, group housing and retail and other commercial properties, hotels, information technology and bio-tech parks to special economic zones (SEZ).
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