MSP Steel & Power gained 7.11% to Rs 55 at 15:05 IST on BSE after the company said it has entered into memorandum of understandings with the state government of Madhya Pradesh and Chhattisgarh for different projects worth Rs 6900 crore.
The company made this announcement during trading hours today, 13 August 2008.
The stock hit a high of Rs 56.55 and a low of Rs 50.70 so far during the day. The stock had hit a 52-week high of Rs 88.90 on 4 January 2008 and a 52-week low of Rs 23.50 on 22 August 2007.
The company has an equity capital of Rs 58.10 crore. Face value per share is Rs 10.
The current price of Rs 55 discounts its Q1 June 2008 annualised EPS of Rs 12.06, by a PE multiple of 4.56.
MSP Steel & Power’s net profit rose 146.6% to Rs 17.51 crore on 71% increase in net sales to Rs 108.13 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and selling of iron and steel products. The company manufactures sponge iron, billets or ingots, construction bars, ferro alloy. The company has operations in China and India.
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