Autoline Industries declined 2.08% to Rs 157.60 at 12:19 IST on BSE, even as the company said on Wednesday, 17 September 2008, its board has approved the acquisition of Cyprus-based Koderat Investments.
The company made this announcement after trading hours on Wednesday, 17 September 2008.
The stock hit a low of Rs 150 so far during the day, which is a 52-week low. The stock hit a high of Rs 157.80 so far during the day. The stock has a 52-week high of Rs 283.50 on 7 May 2008.
The company’s current equity is Rs 12.20 crore. Face value per share is Rs 10.
The current price of Rs 157.60 discounts Q1 June 2008 annualized EPS of Rs 4.39, by a PE multiple of 35.90.
Koderat Investments, a company incorporated and existing under the laws of Cyprus, will act as a special purpose vehicle (SPV) for the purpose of further investment into an Italian S.r.l. which will be in automotive design sector in Italy, Autoline said. The company is engaged in the business of medium sized engineering and auto ancillary, it added.
Autoline Industries’ net profit fell 61.6% to Rs 1.34 crore on 2.1% increase in net sales to Rs 67.33 crore in Q1 June 2008 over Q1 June 2007.
Autoline is engaged in manufacturing and designing of auto components, sheet metal components, sub assemblies and assemblies.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment