Jyoti Structures was locked at 10% upper limit at Rs 65.60 at 15:29 IST on BSE, extending gains for the third day in a row, after the company said Birla Sun Life Mutual Fund has raised its stake to 5% in the company.
The stock hit a high of Rs 65.60 and a low of Rs 61 so far during the day. The stock hit a 52-week high of Rs 328 on 8 January 2008 and a 52-week low of Rs 32.50 on 27 October 2008.
The stock had risen 19.38% from a recent low of Rs 54.95 on 10 December 2008.
The company's current equity is Rs 16.33 crore. Face value per share is Rs 2.
The current price of Rs 65.60 discounts the company's Q2 September 2008 annualized EPS of Rs 9.91, by a PE multiple of 6.62.
Birla Sun Life Mutual Fund, an asset management company, has increased its stake to 5% in Jyoti Structures after acquiring 13,582 shares through open market on 11 December 2008.
Jyoti Structures' net profit rose 18.5% to Rs 20.11 crore on 32.3% increase in net sales to Rs 420.79 crore in Q2 September 2008 over Q2 September 2007.
Jyoti Structures undertakes design, survey, manufacturing and supply of transmission line towers, foundation, erection of towers, supply of bought out items such as conductors, insulators and hardware accessories, stringing of conductors, testing and commissioning of transmission lines.
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