Atlas Copco India slumped 8% to Rs 1192 at 14:51 IST on BSE on profit booking after surging 10% to a high of Rs 1422.75 in early trade.
The stock lost 8.77% at day’s low of Rs 1180 hit so far during the day. The stock had a 52-week high of Rs 1799 on 2 January 2008 and a 52-week low of Rs 680 on 24 March 2008.
Atlas Copco India stock had surged by its maximum permissible level 20% in each of the last two trading sessions on 16 June 2008 and 17 June 2008 after the company said during trading hours on 16 June 2008 its board will meet on 25 June 2008 to consider buy back of equity shares. The stock galloped 59% to Rs 1293.45 17 June 2008 from Rs 813.45 on 12 June 2008.
The company has an equity capital of Rs 22.56 crore. Face value per share is Rs 10.
The current price of Rs 1192 discounts its Q1 March 2008 annualised EPS of Rs 44.24, by a PE multiple of 26.94.
In April 2008, Atlas Copco India acquired 25% stake each in two Hyderabad based firms Focus Rocbit and Prisma Roctools in an all cash deal for an undisclosed sum with an option to acquire the balance 75% of the shares.
Atlas Copco India’s net profit rose 38.8% to Rs 24.95 crore on 28.4% increase in net sales to Rs 283.93 crore in Q1 March 2008 over Q1 March 2007.
The company is engaged in manufacturing and selling air and gas processors, rock drills, pusher legs, merchandised drilling equipment and rock drilling tools. It operates through two segments: industrial segment and construction and mining segment.
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