Neo Corp International on overseas acquisition

Neo Corp International surged 4.09% to Rs 62.30 at 11:28 IST on BSE after the company said it has acquired a UK based company for undisclosed sum.

The stock hit a high of Rs 62.45 and a low of Rs 59.70 so far during the day. The stock had a 52-week high of Rs 79.25 on 1 January 2008 and a 52-week low of Rs 37 on 25 March 2008.

The company has an equity capital of Rs 8.65 crore. Face value per share is Rs 10.

The current price of Rs 62.30 discounts its Q4 March 2008 annualised EPS of Rs 10.27, by a

PE multiple of 6.07.

The UK based company is engaged in the distribution and warehousing of technical textile products, Neo Corp International

Neo Corp International’s net profit rose 131.3% to Rs 2.22 crore on 29% increase in net sales to Rs 27.81 crore in Q4 March 2008 over Q4 March 2007.

Neo Corp makes enviornment-friendly technical textile products such as container liners, leno gags, geo textiles, ground covers, shade nets, wind breaker, and various other allied plastic products.