HBL Power Systems plunged 4.01% to Rs 128 at 13:17 IST on BSE, after the company said it has deferred a plan to raise funds by way of a rights issue.
The stock hit a high of Rs 135 and a low of Rs 127 so far during the day. The stock hit a 52-week high of Rs 497 on 11 December 2007 and a 52-week low of Rs 122.55 on 17 November 2008.
The company's current equity is Rs 24.28 crore. Face value per share is Rs 10.
The current price of Rs 128 discounts the company's Q2 September 2008 annualized EPS of Rs 34.70, by a PE multiple of 3.69.
The company has decided to defer the proposed rights issue due to unfavorable market conditions. Earlier, in September 2008, the company had decided to issue 9,71,182 equity shares on rights basis to the existing equity shareholders in the ratio of 1:25 at a price of Rs 150 per share.
HBL Power Systems is engaged in manufacturing and supplying industrial batteries and power electronics for use in defence, telecom, railways and industrial applications. The group operates in two segments: electronics and batteries. The group has international operations in Malaysia, United Kingdom and Nepal.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment