Prithvi Information Solutions spurts on bagging new order

Prithvi Information Solutions spurted 7.16% to Rs 329.15 at 15:22 IST on BSE after the company received an order worth Rs 309 crore for supply of transmission equipment to state-run Bharat Sanchar Nigam.

Meanwhile, the BSE Sensex was up 456.56 points, or 2.50%, to 18685.11, as Asian stocks surged with sentiment boosted by Microsoft Corp's bid for Yahoo Inc and following China's buy of a large stake in takeover target Rio Tinto.

On BSE, 2.58 lakh shares of the scrip were traded. The stock had an average daily volume of 1.39 lakh shares on BSE in past one quarter.

The scrip had touched a high of Rs 333 and a low of Rs 308 so far during the day. The stock had hit a 52-week high of Rs 369.80 on 1 February 2007 and a 52-week low of Rs 206.25 on 24 January 2008.

The scrip had outperformed the market in the one month to 1 February 2008, falling 1.29% as against the Sensex's 10.33% decline. It had, however, outperformed the market in the past three months, gaining 7.10% against the Sensex's 8.68% slide.

The small-cap software firm has an equity capital of Rs 18.08 crore. Face value per share is Rs 10.

At the current price of Rs 329.15, the scrip trades at a PE multiple of 5.23, based on Q3 December 2007 annualised EPS of Rs 62.83.

Prithvi Information Solutions' net profit rose 5.38% to Rs 28.40 crore on 10.47% increase in sales to Rs 291.73 crore in Q3 December 2007 over Q2 September 2007.

Prithvi Information Solutions is a global provider of customised IT solutions and software services to the clients. It operates through four strategic business units -- application development, network solutions, intelligence solutions, process outsourcing with presence in the US, Europe, Dubai, India and Singapore