Monday, June 23, 2008

ICSA (India) FII buying

ICSA (India) declined 1.36% to Rs 345.05 at 13:37 IST on BSE despite reports foreign fund Deutsche Securities Mauritius, along with persons acting in concert, has increased its stake in the company to 5.08% through open market purchases.

The stock hit a high of Rs 356.95 and a low of Rs 340 so far during the day. The stock had a 52-week high of Rs 648.80 on 28 December 2007 and a 52-week low of Rs 227.39 on 22 June 2007.

The company has an equity capital of Rs 8.80 crore. Face value per share is Rs 2.

The current price of Rs 345.05 discounts its Q4 March 2008 annualised EPS of Rs 34.05, by a PE multiple of 10.13.

On 18 June 2008, ICSA (India) received approval from Non-Conventional Energy Development Corporation of Andhra Pradesh to set up a 20 megawatt capacity of wind power project at Anantapur in the state.

In February 2008, the company secured an order worth Rs 43.97 crore from Northern Power Distribution Company of AP, Andhra Pradesh.

ICSA India’s net profit rose 104.6% to Rs 37.46 crore on 109.6% increase in net sales to Rs 211.78 crore in Q4 March 2008 over Q4 March 2007.

ICSA India is engaged in providing software development services and technology solutions for the power, telecommunication and other sectors. The company also provides rural electrification, construction of sub-stations and conversion of LT line to HT lines.

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