Titagarh Wagons slipped 5.69% to Rs 670 at 10:52 IST on BSE, after the company said on Monday, 15 September 2008, it would acquire the entire ownership and management control of a non-banking financial company.
The company made this announcement before trading hours today, 15 September 2008.
The stock hit a high of Rs 689.05 and a low of Rs 669 so far during the day. The stock has a 52-week high of Rs 907.90 on 2 May 2008 and a 52-week low of Rs 502 on 2 July 2008.
The company’s current equity is Rs 18.44. Face value per share is Rs 10.
The current price of Rs 670 discounts Q1 June 2008 annualized EPS of Rs 52.21, by a PE multiple of 12.83.
Titagarh Wagons also said it plans to set up a joint venture to revive Cimmco Birla (CBL). Titagarh has also set up a unit in Singapore, it said.
Titagarh Wagons reported a net profit of Rs 24.07 crore from net sales of Rs 229.69 crore in Q1 June 2008. Figures of the previous corresponding year period were not available.
Titagarh Wagons is a leading private sector wagon manufacturer in India. It manufactures railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration etc.
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