Astral Poly Technik surged 2.79% to Rs 160 at 12:43 IST on BSE after the company said it has formed a joint venture company with a Kenyan firm.
The company made this announcement during trading hours today, 12 August 2008.
The stock hit a high of Rs 163 and a low of Rs 157 so far during the day. The stock had hit a 52-week high of Rs 235.40 on 3 January 2008 and a 52-week low of Rs 100 on 29 August 2007.
The company has an equity capital of Rs 11.24 crore. Face value per share is Rs 10.
The current price of Rs 160 discounts its Q1 June 2008 annualised EPS of Rs 16.73, by a PE multiple of 9.56.
The proposed joint venture company (JVC) is named as Astral Technologies in which Astral Poly Technik will hold 26% stake.
Astral Poly Technik’s net profit rose 56.7% to Rs 4.70 crore on 81.1% increase in net sales to Rs 42.03 crore in Q1 June 2008 over Q1 June 2007.
The company is a manufacturer and provider of chlorinated polyvinyl chloride (CPVC) piping and plumbing systems in India.
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