Sesa Goa gains on setting record date for bonus

Sesa Goa rose 0.68% to Rs 3040 at 10:50 IST on BSE on setting record date for a 10-for-1 stock split and a 1:1 bonus issue.

The stock hit a high of Rs 3050 and a low of Rs 2965 so far during the day. The stock had a 52-week high of Rs 4390 on 5 May 2008 and a 52-week low of Rs 1686.10 on 17 August 2007.

The company has an equity capital of Rs 39.36 crore. Face value per share is Rs 10.

The current price of Rs 3040 discounts its Q4 March 2008 annualised EPS of Rs 811.28, by a PE multiple of 3.75.

The company has fixed 18 August 2008 as the record date for a 10-for-1 stock split and a liberal bonus issue in the ratio of 1:1. The company announced the record date after trading hours yesterday, 3 July 2008.

Sesa Goa’s net profit rose 216.4% to Rs 798.30 crore on 112.1% increase in net sales to Rs 1644.48 crore in Q4 March 2008 over Q4 March 2007.

Sesa Goa, an iron ore mining company of the Vedanta group, has been involved in iron ore mining, beneficiation and exports besides. It is also into the manufacture of pig iron and metallurgical coke.