Monnet Ispat Energy declined 5.35% to Rs 178.70 at 11:00 IST on BSE, even as the company decided to consider a proposed for buyback of its own shares.
The stock hit a high of Rs 185.50 so far during the day. The stock hit a low of Rs 178 so far during the day, which is 52-week low. The stock has a 52-week high of Rs 710 on 1 January 2008.
The company’s current equity is Rs 49.25 crore. Face value per share is Rs 10.
The current price of Rs 178.70 discounts the company’s Q1 June 2008 annualized EPS of Rs 57.12, by a PE multiple of 3.19.
The company’s board will meet on 23 October 2008 to consider buyback of equity shares of the company through open market purchases.
Monnet Ispat Energy’s net profit surged 52.7% to Rs 70.32 crore on 61.5% increase in net sales to Rs 378.81 crore in Q1 June 2008 over Q1 June 2007.
The company has varied interest ranging from steel, ferro alloys, power and mining.
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