Spanco Telesystems & Solutions gained 1.64% to Rs 121 at 10:25 IST on BSE after the company said it has formed a joint venture with Shyam Group to buy Spectranet, the internet service provider division of Punj Lloyd, for an undisclosed sum.
The stock hit a high of Rs 125 and a low of Rs 119.40 so far during the day. The stock had a 52-week high of Rs 286 on
The company has an equity capital of Rs 20.65 crore. Face value per share is Rs 10.
The current price of Rs 121 discounts its Q3 December 2007 annualised EPS of Rs 27.91, by a PE multiple of 4.34.
The joint venture (JV) company will operate in the field of neutral host telecom infrastructure sharing, broadband, data centers and all other related services and also develop/acquire telecom related products and provide services.
In March 2008, Spanco Telesystems secured orders worth Rs 166 crore from various parties.
In January 2008, the company secured a contract worth Rs 13.75 crore to connect jails and courts in Haryana through statewide area network for various E governance initiatives.
Spanco Telesystems & Solutions’ net profit rose 32.08% to Rs 14.41 on a 38.44% growth in net sales to Rs 188.3 crore in Q3 December 2007 over Q2 September 2007.
Spanco Telesystems has two main segments, viz. telecommunication and call centre-international.
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