Valecha Engineering surged 12.07% to Rs 144.35 at 12:55 IST on BSE after the company said it has bagged additional orders worth Rs 133 crore for laying roads and building bridges in Pune and Delhi.
The company made this announcement during trading hours today, 23 July 2008.
The stock hit a high of Rs 147 and a low of Rs 133.15 so far during the day. The stock had a 52-week high of Rs 358 on 4 January 2008 and a 52-week low of Rs 118.80 on 1 July 2008.
The company has an equity capital of Rs 11.95 crore. Face value per share is Rs 10.
The current price of Rs 144.35 discounts its Q4 March 2008 annualised EPS of Rs 60.32, by a PE multiple of 2.39.
Earlier this month, the company announced that its board would meet on 30 July 2008 to consider issue of bonus shares.
In March 2008, Valecha Engineering bagged new projects worth Rs 250 crore, which includes road works at Pune, Delhi airport express line work and piling projects.
Valecha Engineering’s net profit surged 1616.2% to Rs 18.02 crore on 141.1% increase in net sales to Rs 195.10 crore in Q4 March 2008 over Q4 March 2007.
The Rs 250 crore company is primarily a player in the road construction business, from which it derives 70% of its revenues. Its road projects are present across many states in the country.
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