Alchemist Realty jumps on bonus issue recommendation

Alchemist Realty surged 3.87% to Rs 769 after its board of directors approved a liberal one for one bonus issue

The company made the announcement during market hours today, 13 December 2007.

On BSE, 4160 shares of the scrip were traded. The stock had an average daily volume of 8492 shares on BSE in past one quarter.

The scrip had touched a high of Rs 770 and a low of Rs 703.50 so far during the day. The stock had hit a 52-week high of Rs 747 on 11 December 2007 and a 52-week low of Rs 73.30 on 28 December 2006.

The scrip had outperformed the market in the one month to 12 December 2007, adding 24.59% as against the Sensex's 8.75 % gain. It had also outperformed the market in the past three months, soaring 120.34% against the Sensex's 31.41% rise.

The small-cap firm has an equity capital of Rs 7.04 crore. Face value per share is Rs 10.

At the current price of Rs 769, the scrip trades at a PE multiple of 66, based on Q2 September 2007 annualised EPS of Rs 11.65.

The company will hold an extraordinary general meeting of its shareholders on 10 January 2008 to obtain their approval for the bonus issue.

Alchemist Realty's net profit surged 20400% to Rs 2.05 crore on sales of Rs 4.78 crore in Q2 September 2007 over Q2 September 2006.

Alchemist Realty (formerly known as Pan Packaging) is engaged in real estate business