Stock split proposal electrifies GVK Power & Infrastructure

GVK Power & Infrastructure jumped 8.71% to Rs 861.05 at 12:57 IST on BSE, after the company's board today, 6 December 2007, approved a 10-for-1 stock split. .

The company made this announcement during trading hours today, 6 December 2007.

Meanwhile, BSE Sensex was up 153.76 points or 0.78% to 19,891.83.

On BSE 3.10 lakh shares were traded in the counter. The scrip had an average daily volume of 78,455 shares in the past one quarter.

The stock hit a high of Rs 935 so far during the day, which is a record high. The stock has a low of Rs 790.20 so far during the day. The stock has a 52-week low of Rs 266.25 on 13 December 2006.

The mid-cap scrip had outperformed the market over the past one month till 4 December 2007, gaining 18.14% compared to the Sensex's decline of 0.31%. It had also outperformed the market in the past one quarter, rising 42.90% compared to Sensex's rise of 26.44%.

The company's current equity is Rs 140.58 crore. Face value per share is Rs 10.

The current price of Rs 861.05 discounts Q2 September 2007 annualized EPS of Rs 7.59 by a PE multiple of 113.45.

GVK Power & Infrastructure rose 45.85% to Rs 11.61 crore on 7.4% growth in net sales to Rs 3.20 crore in Q2 September 2007 over Q2 September 2006.

The company's principal activity is to operate power plants