Core Projects & Technologies rose 3.25% to Rs 46.10 on 29th Dec'08, after the company acquired a US-based company for $20 million.
The stock hit a high of Rs 47 and a low of Rs 45 so far during the day. The stock had a 52-week high of Rs 464.40 on 28 December 2007 and a 52-week low of Rs 34.10 on 27 October 2008.
The small-cap software-solutions provider has an equity capital of Rs 17.25 crore. Face value per share is Rs 2.
The current price of Rs 46.10 discounts its Q2 September 2008 annualised EPS of Rs 7.77, by a PE multiple of 5.93.
Core Projects & Technologies has acquired a unit of US-based education company, The Princeton Review. The acquired unit provides integrated education solutions.
The acquisition will add approximately $24 million to Core Projects' global revenues and is expected to yield an Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) of 24% in the full year of operations, Core Projects said in a statement to the stock exchanges. The acquisition will be funded through debt, the statement added.
Core Projects & Technologies' net profit rose 25.75% to Rs 16.75 crore on a 36.99% rise in sales to Rs 88.91 crore in Q2 September 2008 over Q1 June 2008.
Core Projects & Technologies provides information technology products and services. The company provides services including onsite and offsite consulting and knowledge management services, systems integration, global postioning system based vehicle tracking and detection systems, application support for their products, and offshore outsourcing.
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