Century Plyboards shines on acquisition buzz

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Century Plyboards India gained 2.45% to Rs 730 at 12:52 IST on BSE on reports it has acquired Chennai based Sharon Plywoods and Karnal based Century Panels.

On BSE, 684 shares were traded in the counter. The scrip had an average daily volume of 3,339 shares in the past one quarter.

The stock hit a high of Rs 732.80 and a low of Rs 705 so far during the day. The stock had a 52-week high of Rs 833.60 on 19 December 2007 and a 52-week low of Rs 271 on 12 July 2007.

The mid-cap scrip had outperformed the market over the past one month till 22 April 2008, gaining 19.86% compared to the Sensex's return of 9.77%. It had also outperformed the market in the past one quarter, gaining 12.62% compared to Sensex's decline of 4.60%.

The company's current equity is Rs 19.76 crore. Face value per share is Rs 10.

The current price of Rs 730 discounts its Q3 December 2007 EPS of Rs 25.96, by a PE multiple of 28.12.

Following this acquisition, Century Plyboards will get full control of the acquired companies, reports added.

Century Plyboards India's net profit rose 74.6% to Rs 12.85 crore on 31.2% growth in net sales to Rs 142.50 crore in Q3 December 2007 over Q3 December 2006.

The company manufactures the entire range of commercial, marine, concrete, shuttering and decorative plywood.

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