Confidence Petroleum acquiring LPG unit

Confidence Petroleum India rose 4.2% to Rs 18.75 at 11:55 IST on BSE after the company said on Monday, 12 May 2008, it has acquired liquified petroleum gas cylinder manufacturing unit of J R Fabricators.

The stock hit a high of Rs 18.90 and a low of Rs 18.05 so far during the day. The stock had a 52-week high of Rs 34.45 on 8 January 2008 and the stock hit a 52-week low of Rs 5.65 on 24 May 2007.

The company’s current equity is Rs 25.71 crore. Face value per share is Rs 1.

The current price of Rs 18.75 discounts its Q3 December 2007 annualised EPS of Rs 1.32, by a PE multiple of 14.20.

The Confidence Petroleum India’s net profit rose 233.3% to Rs 6.7 crore on 132.7% rise in sales to Rs 36.26 crore in Q3 December 2007 over Q3 December 2006.

Confidence Petroleum India is largest liquified petroleum gas (LPG) cylinder manufacturer and also India's leading parallel LPG bottler