Indo Asian Fusegear forays in power generation

Indo Asian Fusegear galloped 9.41% to Rs 95.95 at 13:41 IST on BSE on reports the company is planning a foray into power generation.

The stock hit a high of Rs 99.25 and low of Rs 91.80 so far during the day. The stock had hit a 52 week high of Rs 201 on 7 January 2008 and a 52 week low of Rs 80.50 on 12 June 2008.

The company’s equity share capital is Rs 14.56 crore. Face value per share is Rs 10.

At the current market price of Rs 95.95, the PE multiple works out to 12.98, based on the Q3 December 2007 annualised EPS of Rs 7.39.

As per reports, Indo Asian Fusegear is looking at options in hydel and wind projects and is negotiating for some circles in Haryana and Uttar Pradesh.

Indo Asian Fusegear is a Noida-based manufacturer of electrical lighting and switchgear equipments.

The company’s net profit declined 36.40% to Rs 2.83 crore on 24% rise in net sales to Rs 66.86 crore in Q3 December 2007 over Q3 December 2006.