Auto Corporation of Goa - Tata Motors hikes stake in it

Automobile Corporation of Goa soared 4.60% to Rs 213.80 at 14:32 IST on BSE on reports Tata Motors has increased its shareholding in the company by 3% to 40.6% in three months through open market operations.

The stock hit a high of Rs 214 and a low of Rs 206.95 so far during the day. The stock had a 52-week high of Rs 565 on 6 July 2007 and a 52-week low of Rs 191 on 30 June 2008.

The company has an equity capital of Rs 6.42 crore. Face value per share is Rs 10.

The current price of Rs 213.80 discounts its Q4 March 2008 annualised EPS of Rs 54.64, by a

PE multiple of 3.91.

Automobile Corporation of Goa (ACG)’s net profit rose 15.9% to Rs 8.77 crore on 5.2% increase in net sales to Rs 114.81 crore in Q4 March 2008 over Q4 March 2007.

The company's principal activity is to manufacture, assemble and press all types of sheet metal components including ferrous and non-ferrous metals. The company also manufactures bus bodies and component parts. The manufacturing plants are located in Goa.