Sesa Goa strikes gold on stock split, bonus plans

Sesa Goa jumped 7.14% to Rs 3750 at 9:55 IST on BSE after the company said it has scheduled a board meet on Monday, 28 April 2008, to consider stock split and issue of bonus shares.

The company made this announcement on Saturday, 26 April 2008.

Meanwhile, the BSE Sensex was up 122.55 points, or 0.72%, to 17,248.53, as Asian markets were mostly in the green.

On BSE, 5,035 shares were traded in the counter. The scrip had an average daily volume of 72,110 shares in the past one quarter.

The stock hit a high of Rs 3799 and a low of Rs 3635 so far during the day. The stock had a 52-week high of Rs 3969 on 1 January 2008 and a 52-week low of Rs 1630 on 7 June 2007.

The mid-cap scrip had outperformed the market over the past one month till 25 April 2008, gaining 13.67% compared to the Sensex's return of 6.93%. It had also outperformed the market in the past one quarter, gaining 6.13% compared to Sensex's decline of 6.73%.

The company's current equity is Rs 39.36 crore. Face value per share is Rs 10.

The current price of Rs 3750 discounts its Q3 December 2007 annualised EPS of Rs 500.72, by a PE multiple of 7.49.

Sesa Goa's net profit rose 152.7% to Rs 492.71 crore on 99.4% growth in net sales to Rs 1172.38 crore in Q3 December 2007 over Q3 December 2006.

Sesa Goa, an iron ore mining company of the Vedanta group, has been involved in iron ore mining, beneficiation and exports besides. It is also into the manufacture of pig iron and metallurgical coke.