Chettinad Cement Corporation declined 2.99% to Rs 469.90 at 13:28 IST on BSE, as net profit declined 32.70% to Rs 34.16 crore in Q2 September 2008 over Q2 September 2007.
The stock hit a high of Rs 469.90 and low of Rs 445 so far during the day. The stock has a 52-week high of Rs 525 on 11 August 2008 and a 52-week low of Rs 345.15 on 22 January 2008.
The stock gained 0.92% to Rs 484.40 on 16 October 208, ahead of the results. From a recent high of Rs 484.20 on 6 October 2008, the stock declined 2.95%.
The company’s current equity is Rs 29.50 crore. Face value per share is Rs 10.
The current price of Rs 469.90 discounts the company’s Q2 September 2008 annualized EPS of Rs 46.32, by a PE multiple of 10.14.
Chettinad Cement Corporation’s net sales rose 20.7% to Rs 283.79 crore in Q2 September 2008 over Q2 September 2007.
On 16 October 2008, the company’s board approved issue of equity shares on rights basis in the ratio of 1:6. The company will raise up Rs 250 crore through the rights issue
The company is engaged in manufacturing and marketing cement including ordinary portland cement and clinker. It also generates power from windmill and captive thermal power plants.
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