Kohinoor Broadcasting Corporation firmly in the picture

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Kohinoor Broadcasting Corporation was locked at upper limit of 5% to Rs 19.80 at 14:13 IST on BSE after its board approved buying Tagore Theatres, valued at about Rs 100 crore..

The BSE Sensex was up 145.59 points, or 0.72%, to 20835.48.

On BSE, 15.84 lakh shares of the scrip were traded. The stock had an average daily volume of 12.80 lakh shares on BSE in past one quarter.

The scrip is currently trading at a 52-week high. It touched a low of Rs 19 so far during the day. The stock had hit a 52-week low of Rs 4.50 on 6 March 2007.

The scrip had outperformed the market in the one month to 4 January 2008, adding 89% as against the Sensex's 4.50% rise. It had also outperformed the market in the past three months, soaring 84.93% against the Sensex's 16.39% rise.

The small-cap entertainment firm has an equity capital of Rs 110.21 crore. Face value per share is Rs 10.

At the current price of Rs 19.80, the scrip trades at a PE multiple of 38.07, based on Q2 September 2007 annualised EPS of Rs 0.52.

The board has also approved setting up a subsidiary in UK to launch a television channel there.

Kohinoor Broadcasting Corporation's net profit fell 32.40% to Rs 0.46 crore on 30.70% decline in sales to Rs 3.68 crore in Q2 September 2007 over Q2 September 2006.

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