Sintex Industries gains on acquisition

Sintex Industries rose 1.20% to Rs 387.75 at 15:09 IST on BSE after the company said on Wednesday, 18 June 2008, it had acquired Indore-based Digvijay Communication and Networks, a telecom infrastructure provider.

The stock hit a high of Rs 407 and a low of Rs 382.70 so far during the day. The stock had a 52-week high of Rs 615 on 4 January 2008 and a 52-week low of Rs 225 on 19 June 2007.

The company has an equity capital of Rs 27.30 crore. Face value per share is Rs 2.

The current price of Rs 387.75 discounts its Q4 March 2008 annualised EPS of Rs 26.10, by a PE multiple of 14.86.

Digvijay Communication and Networks (DCNPL) provides telecom infrastructure services in India. The core services of the company includes network infrastructure services, installation and commissioning, annual maintenance and telecom tower manufacturing.

Sintex Industries’ net profit rose 64.6% to Rs 88.40 crore on 77.4% increase in net sales to Rs 647.38 crore in Q4 March 2008 over Q4 March 2007.

The company manufactures water storage tanks, loft tanks, industrial containers and material handling containers.