Rich brew for McLeod Russel India on strong outlook

-

McLeod Russel India soared 9.16% to Rs 80.45 at 11:20 IST on BSE, extending previous session's gain after the company official said in a television interview that the firm estimates Rs 750–Rs 770 crore revenue in FY 2009.

In the previous session on Monday, 7 April 2008 the McLeod share closed up 6.12% or Rs 4.25 at Rs 73.70. The interview was broadcasted during market hours on Monday, 7 April 2008.

Meanwhile, the BSE Sensex was down 201.61 points, or 1.28%, to 15555.56 tracking subdued-to-weak trend in Asian stocks.

On BSE, 4.92 lakh shares of the scrip were traded. The stock had an average daily volume of 2.96 lakh shares on BSE in past one quarter.

The scrip had touched a high of Rs 81.55 and a low of Rs 74 so far during the day. The stock had hit a 52-week high of Rs 98.95 on 3 January 2008 and a 52-week low of Rs 46.45 on 21 January 2008.

The scrip had outperformed the market in the one month to 7 April 2008, gaining 15.97% as against the Sensex's 1.37% fall. It had also outperformed the market in the past three months, slipping 16.15% against the Sensex's 24.51% slide.

The small-cap tea manufacturer has an equity capital of Rs 54.17 crore. Face value per share is Rs 5.

At the current price of Rs 80.45, the scrip trades at a PE multiple of 9.05, based on Q3 December 2007 annualised EPS of Rs 8.88.

Earlier on 22 February 2008, the shareholders of Mcleod Russel India had approved the scheme of amalgamation of The Moran Tea Company India with Mcleod Russel India.

The net profit of McLeod Russel India rose 45.6% to Rs 24.06 crore on 3.5% rise in sales to Rs 190.42 crore in Q3 December 2007 over Q3 December 2006.

McLeod Russel India produces tea in India. The company offers its products under the Williamson and WN brand names

Popular posts from this blog

IOB capitalises on hike in stake by LIC

-
Indian Overseas Bank rose 1.53% to Rs 46.45 at 10:31 IST on BSE, after the biggest domestic instutional investors Life Insurance Corporation of India hiked its stake in the state-run bank. The bank made this announcement after trading hours on Wednesday, 25 March 2009. Meanwhile, the BSE Sensex was up 126.19 points, or 1.31%, to 9,794.09. On BSE, 31,003 shares were traded in the counter. The stock had an average daily volume of 1.93 lakh shares in the past one quarter. The stock hit a high of Rs 47 and a low of Rs 45.95 so far during the day. The stock hit a 52-week high of Rs 156.80 on 2 May 2008 and a 52-week low of Rs 37.55 on 9 March 2009. The mid-cap bank stock had underperformed the market over the past one month till 25 March 2009, falling 3.17% as compared to the Sensex's 8.60% rise. It had also underperformed the market in the past one quarter, declining 33.94% as compared to the Sensex's 1.04% rise. The bank's current equ The current price of ...
Read more

Lok Housing & Constructions builds on fund raising plans

-
Lok Housing & Constructions jumped 6.99% to Rs 107.90 at 11:20 IST on BSE ahead of a board meeting to consider fund raising options from both foreign and local market, including an institutional placement. Meanwhile, the BSE Sensex was down 50.50 points, or 0.30%, at 15203.73. On BSE, 1.86 lakh shares were traded in the counter. The scrip had an average daily volume of 4.74 lakh shares in the past one quarter. The stock hit a high of Rs 115 and a low of Rs 102 so far during the day. The stock had a 52-week high of Rs 390.50 on 1 January 2008 and a 52-week low of Rs 96.25 on 12 June 2008. The scrip had underperformed the market over the past one month till 12 June 2008, falling 26.55% compared to the Sensex's 10.18% decline. It had also underperformed the market in the past one quarter, falling 31.39% compared to Sensex's 3.24% fall. The small-cap housing projects developer has an equity capital of Rs 42.88 crore. Face value per share is Rs 10. The current...
Read more

economic times picks

-
CMP: Rs 70.50 Target Price: Rs 90 CLSA Asia-Pacific Markets maintains an 'outperform' on Jagran Prakashan, with a 12-month price target of Rs 90. "An economic slowdown notwithstanding, improving literacy and income levels in Hindi heartland imply that drivers for Jagran's growth are still in place. With a 35% ad rate hike in 2008, Jagran continues to narrow the gap with its more expensive English rivals," the foreign brokerage said in a client note, after a Q&A reply from the management. "Rising newsprint prices have made Jagran cautious on launching new editions in FY09 and its focus this year will be profitability. While management has budgeted for a minor increase in FY10 newsprint prices, it believes that prices are likely to peak in Q2FY08 and decline thereon," it added. Neyveli Lignite CMP: Rs 117.15 Target Price: Rs 160 MERRILL Lynch has maintained its 'neutral' rating on Neyveli Lignite, with a price target of Rs 160 ...
Read more