Shri Lakshmi Cotsyn spurted 7.07% to Rs 64.35 at 14:58 IST on BSE after the company said it would consider raising funds overseas as well as from private equity players.
The company made the announcement during market hours today, 19 September 2008.
The stock hit a high of Rs 65.90 and a low of Rs 63 so far during the day. The stock had a 52-week high of Rs 203.50 on 31 December 2007 and a 52-week low of Rs 56.75 on 18 September 2008.
The small-cap textiles firm has an equity capital of Rs 14.80 crore. Face value per share is Rs 10.
The current price of Rs 64.35 discounts its Q4 June 2008 annualised EPS of Rs 52.05, by a PE multiple of 1.23.
The company also said it would increase its stake in a joint venture with UK-based Armet Armoured Vehicles to 75% from 49%.
The net profit of Shri Lakshmi Cotsyn rose 36.2% to Rs 19.26 crore on a 0.7% decline in sales to Rs 223.27 crore in Q4 June 2008 over Q4 June 2007.
Shiri Lakshmi Cotsyn manufactures and processes cotton fabrics. The company offers a wide variety of embroided fabrics, towels, denim, shirtings, and safety garments for the Army.
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