Texmaco spurts on stock split proposal

Texmaco jumped 6.17% to Rs 1540 at 10:48 IST on BSE after the company said it has scheduled a board meet on 16 May 2008 to consider stock split.

The stock hit a high of Rs 1639 and a low of Rs 1470 so far during the day. The stock had a 52-week high of Rs 1965.50 on 2 January 2008 and a 52-week low of Rs 825 on 11 May 2007.

The company’s current equity is Rs 10.32 crore. Face value per share is Rs 10.

The current price of Rs 1540 discounts its Q4 March 2008 annualised EPS of Rs 56.46, by a PE multiple of 27.28.

Texmaco’s net profit rose 107.40% to Rs 14.58 on 78.5% increase in net sales to Rs 160.54 crore in Q3 December 2007 over Q3 December 2006.

Texmaco, a part of K K Birla Group, is a diversified engineering company. It manufactures railway freight cars/wagons, hydro-mechanical equipment for mega power projects, heavy steel structures and process equipment.