Speciality Papers surges on setting record date for bonus issue

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Speciality Papers was locked 5% upper limit of Rs 57.75 at 10:57 IST on BSE after the company set record date for a liberal 1:1 bonus issue.

On BSE, 400 shares were traded in the counter. The scrip had an average daily volume of 27,871 shares in the past one quarter.

The stock hit a high of Rs 57.75 and a low of Rs 57.75 so far during the day. The stock had a 52-week high of Rs 107.50 on 18 January 2008 and a 52-week low of Rs 26 on 3 April 2007.

The small-cap scrip had underperformed the market over the past one month till 1 April 2008, declining 13.11% compared to the Sensex's fall of 6.30%. It had also underperformed the market in the past one quarter, declining 34.17% compared to Sensex's decline of 23.64%.

The company's current equity is Rs 3.84 crore. Face value per share is Rs 10.

The current price of Rs 57.75 discounts its Q3 December 2007 annualized EPS of Rs 5.73, by a PE multiple of 10.08.

Speciality Papers has fixed 16 April 2008 as the record date for a 1:1 bonus issue. The company announced the record date for bonus issue after trading hours on Tuesday, 1 April 2008.

On 7 March 2008, Speciality Papers bagged an export order worth $0.5 million in Latin America.

Speciality Papers' net profit rose 3.8% to Rs 0.55 crore on 1.6% growth in net sales to Rs 14.31 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing and selling paper and paper related products. The company's products include tissue papers, hygiene products and printing and writing papers.

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