Valecha Engineering surged 5.69% to Rs 156.15 at 11:23 IST on BSE, after the company said its board has fixed 3 October 2008 as the record date for issue of bonus shares in the ratio of 1:2.
The company announced the record date during trading hours today, 2 September 2008.
The stock hit a high of Rs 158.45 and a low of Rs 152 so far during the day. The stock has a 52-week high of Rs 358 on 4 January 2008 and a 52-week low of Rs 118.80 on 1 July 2008.
The company’s current equity is Rs 11.95. Face value per share is Rs 10.
The current price of Rs 156.15 discounts Q1 June 2008 annualized EPS of Rs 14.29, by a PE multiple of 10.93.
In July 2008, Valecha Engineering bagged additional orders worth Rs 133 crore for laying roads and building bridges in Pune and Delhi.
In March 2008, the company bagged new projects worth Rs 250 crore, which includes road works at Pune, Delhi airport express line work and piling projects.
Valecha Engineering’s net profit rose 19.3% to Rs 4.27 crore on 51.7% increase in net sales to Rs 141.67 crore in Q1 June 2008 over Q1 June 2008.
The company is primarily in the road construction business, from which it derives 70% of its revenues. Its road projects are present across many states in the country.
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