Valecha Engineering advanced 3.37% to Rs 152 at 11:20 IST on BSE after the company’s board of directors recommended issue of bonus shares in the ratio of one share for every two shares held..
The meeting of board of directors was held yesterday, 30 July 2008, and the announcement was made after trading hours yesterday.
The stock hit a high of Rs 153.95 and a low of Rs 148.20 so far during the day. The stock had a 52-week high of Rs 358 on 4 January 2008 and a 52-week low of Rs 118.80 on 1 July 2008.
The company has an equity capital of Rs 11.95 crore. Face value per share is Rs 10.
The current price of Rs 152 discounts its Q4 March 2008 annualised EPS of Rs 60.32, by a PE multiple of 2.51.
Valecha Engineering’s net profit surged 1616.2% to Rs 18.02 crore on 141.1% increase in net sales to Rs 195.10 crore in Q4 March 2008 over Q4 March 2007.
The company is primarily a player in the road construction business, from which it derives 70% of its revenues. Its road projects are present across many states in the country.
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