ICI India galloped 9.39% to Rs 478.05 at 14:21 IST on BSE, after the company said on Wednesday, 15 October 2008, its board will meet on 23 October 2008 to consider buyback of equity shares at a price not exceeding Rs 575 a share.
The stock hit a high of Rs 488.80 and a low of Rs 435 so far during the day. The stock has a 52-week high of Rs 678.90 on 1 April 2008 and a 52-week low of Rs 392.95 on 6 October 2008.
The company’s current equity is Rs 38.22 crore. Face value per share is Rs 10.
The current price of Rs 478.05 discounts the company’s Q1 June 2008 annualized EPS of Rs 74.14, by a PE multiple of 6.44.
ICI India’s net profit surged 209.79% to Rs 70.88 crore on 20.98% growth in total income to Rs 290.19 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing paints, speciality chemicals, rubber chemicals, adhesives & starch. The group's activities are carried out through three segments: paints, chemicals and flavors and fragrances.
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