CESC rose 1.23% to Rs 222.40 ,on 10th Nov-08, at 13:43 IST on BSE on reports the company will spend Rs 2000 crore in 3-5 years for strengthening distribution network.
The stock hit a high of Rs 224 and a low of Rs 218.20 so far during the day. The stock had a 52-week high of Rs 715 on 4 January 2008 and a 52-week low of Rs 165 on 27 October 2008.
The mid-cap private sector power utility has an equity capital of Rs 124.94 crore. Face value per share is Rs 10.
The current price of Rs 222.40 discounts its Q2 September 2008 annualised EPS of Rs 39.37, by a PE multiple of 5.64.
The funds will go into network augmentation and setting up of more control systems. The funds will be spent through internal accruals, the reports quoted CESC's vice chairman Sanjiv Goenka as saying.
The company has tied up with SP Global Solutions, a subsidiary of Singapore Power, for technology transfer to strengthen its distribution network, the reports added.
CESC's net profit rose 33.3% to Rs 124 crore on a 2.6% rise in sales to Rs 755 crore in Q2 September 2008 over Q2 September 2007.
CESC generates and distributes electricity in Kolkata, Howrah, and the adjoining areas, a customer base of 15 million. The generating stations of the company are located at Mulajore, Cossipore, Titagarh and Metiabruz in Kolkata.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment