Valiant Communications spurted 12.06% to Rs 28.80 at 12:58 IST on BSE, after the company said on Monday, 8 September 2008, its board has approved a proposal for buyback of equity shares.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 30.80 and a low of Rs 27 so far during the day. The stock has a 52-week high of Rs 65.80 on 10 January 2008 and a 52-week low of Rs 19 on 2 July 2008.
The company’s current equity is Rs 8.65. Face value per share is Rs 10.
The current price of Rs 28.80 discounts Q1 June 2008 annualized EPS of Rs 2.50, by a PE multiple of 11.52.
The company will buyback its own equity shares through open market at a price not exceeding Rs 32 a share. The total amount of buy back will not exceed Rs 3.14 crore.
Valiant Communications’ net profit rose 217.6% to Rs 0.54 crore on 19% fall in net sales to Rs 1.96 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing telecom transmission equipment and solutions.
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