Ingersoll-Rand India jumped 5.23% to Rs 333 at 11:35 IST on reports the company has revived an earlier plan to buy back shares, which could eventually lead to delisting.
The stock hit a high of Rs 333.30 and a low of Rs 326.25 so far during the day. The stock had hit a 52-week high of Rs 356.80 on 11 September 2009 and a 52-week low of Rs 200.15 on 20 February 2009.
It has an equity capital of Rs 31.57 crore. Face value per share is Rs 10.
The current price of Rs 333 discounts the company's Q1 June 2009 annualised EPS of Rs 8.32, by a PE multiple of 40.02.
US-based Ingersoll-Rand currently owns 74% in Ingersoll-Rand (India). The company had announced its plan to buy back share in March 2009. It then got delayed, as the promoter company was unwilling to participate. The buyback would have shrunk the share holding, leading to the promoters' holding going above 75%. According to the regulator's guidelines this would have mandatorily meant an open offer by the promoter.
Ingersoll-Rand India's net profit fell 63.7% to Rs 6.57 crore on a 12.1% decline in sales to Rs 85.32 crore in Q1 June 2009 over Q1 June 2008.
Ingersoll-Rand India manufactures industrial equipment. The Company's products include air compressors and stationary generators.
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