Tuesday, August 26, 2008

TTK Prestige shoots uper Circuit on delisting proposal

TTK Prestige surged 16.87% to Rs 154 at 12:05 IST on BSE after the firm said its board will meet on 1 September 2008 to consider delisting of equity shares from BSE and NSE.
The stock hit a high of Rs 158.55 and a low of Rs 135.10 so far during the day. The stock had a 52-week high of Rs 233.70 on 4 January 2008 and a 52-week low of Rs 93 on 30 July 2008.
The small-cap pressure cooker maker has an equity capital of Rs 11.35 crore. Face value per share is Rs 10.
The current price of Rs 154 discounts its Q1 June 2008 annualised EPS of Rs 18.01, by a PE multiple of 8.55.
TTK Prestige’s net profit rose 19.20% to Rs 5.10 crore on a 13.10% rise in sales to Rs 85.66 crore in Q1 June 2008 over Q1 June 2007.
TTK Prestige manufactures a range of domestic appliances. The company's products include pressure cookers and non-stick cookware, stainless steel/glass vacuum flasks, and gas stoves.
The promoters hold 72.37% in TTK Prestige (as on 30 June 2008).

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