Scandent to be now known as Cambridge Solutions.locked at upper limit of 5% at Rs 65.45 on BSE, extending gains for the seventh session in a row after UK-based Xchanging Plc offered Rs 81.11 a share for buying 20% additional stake in the company.
The Cambridge Solutions stock advanced 53.76% in past six session to Rs 62.35 on 6 October 2008 from Rs 40.55 on 25 September 2008.
The stock had a 52-week high of Rs 106.50 on 11 October 2007 and a 52-week low of Rs 34.60 on 25 March 2008.
The small-cap IT services firm has an equity capital of Rs 111.36 crore. Face value per share is Rs 10.
The current price of Rs 65.45 discounts its Q1 June 2008 annualised EPS of Rs 2.69, by a PE multiple of 24.33.
Xchanging Plc is a UK-based back office firm. On Friday, 3 October 2008, Xchanging said it agreed to acquire the company for 83 million pounds, or Rs 686.84 crore in cash and shares. Xchanging aims to have a total 75% holding in Cambridge, including the open offer, it said in the notice. Xchanging aims to have a total 75% holding in Cambridge, including the open offer, it said in the notice.
The open offer for acquiring for 2.25 crore shares, or 20% in Cambridge at Rs 81.11 per share begins on 27 November 2008 and will close on 16 December 2008, according to the public announcement.
Cambridge Solutions’ net profit slipped 56.46% to Rs 7.48 crore on a 40.12% rise in sales to Rs 67.30 crore in Q1 June 2008 over Q4 March 2008.
Cambridge Solutions provides software solutions for industries that include insurance, financial services, government, manufacturing, logistics, public services, and emerging markets such as real estate, healthcare, media, and entertainment.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment