Lanco Infratech strikes all-time high
On BSE 29.30 lakh shares were traded in the counter. The scrip had an average daily volume of 5.34 lakh shares in the past one quarter.
The stock hit a high of Rs 721.90, a record high for the stock on BSE. The stock had touched a low of Rs 595 so far during the day. The stock had a 52-week low of Rs 137 on 5 April 2007.
The mid-cap scrip outperformed the market over the past one month till 10 December 2007, gaining 42.09% as compared to the Sensex’s return of 5.41%. However, it underperformed the market in the past one quarter, surging 103.61% as compared to the Sensex’s rise of 28.23%.
The company’s current equity is Rs 222.36 crore. Face value per share is Rs 10.
The current price of Rs 711 discounts its Q2 September 2007 annualized EPS of Rs 6.24 by a PE multiple of 113.94.
The contract was earlier awarded to Bharat Heavy Electricals (BHEL), in September 2004.
On 26 November 2007, Lanco bagged a contract valued at Rs 67.24 crore from Central Power Distribution Company of Andhra Pradesh for supply and erection of 33/11-kilo volt substations and 33/11-kilo volt lines in five districts in Andhra Pradesh.
On 16 November 2007, the government decided to make a joint allocation of Rampia and DIP side of Rampia non-coking coal blocks in Orissa in favour of Lanco and five other companies jointly.
Lanco Infratech’s net profit rose 238.7% to Rs 34.28 crore on 277.8% growth in net sales to Rs 379.40 crore in Q2 September 2007 over Q2 September 2006.
The company is engaged in power generation, power trading, real estate development, engineering and construction, information technology and manufacturing