SEL Manufacturing Company was down 0.13% to Rs 235 at 13:00 IST on BSE, having recovered from the session’s low of Rs 228.20, after the company said it would set up a technical textile park in Himachal Pradesh.
The company made this announcement during trading hours today, 10 September 2008.
The stock hit a high of Rs 239.70 and a low of Rs 228.20 so far during the day. The stock has a 52-week high of Rs 757 on 5 August 2008 and a 52-week low of Rs 76.65 on 22 October 2007.
The company’s current equity is Rs 17.17. Face value per share is Rs 10.
The current price of Rs 235 discounts Q1 June 2008 annualized EPS of Rs 46.06, by a PE multiple of 5.10.
The project would be one shop solution for entire manufacturing process for the technical textile products which include hygiene products like wipes, diapers, sanitary napkins, panty shields and surgical clothing i.e. gloves, masks, gowns.
The project will be set up with an overall investment of about Rs 500 crore. The project would cover an area of 100 acres of land and is expected to generate employment for approximately 10000 people.
In April 2008, the company’s board approved Rs 611.67-crore expansion project for setting up technical textile facility in Punjab. The company would set up a facility to manufacture technical textiles having a capacity of 90 tonnes per day (tpd).
SEL Manufacturing Company’s net profit surged 215.3% to Rs 19.14 crore on 209.2% increase in net sales to Rs 176.87 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures and exports knitted garments, fabrics and combed and carded yarn.
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