Smooth sailing for Shipping Corporation after bonus issue plans

-

Shipping Corporation of India rose 6.77% to Rs 260.05 at 10:50 IST on BSE after the company said its board will consider a proposal for recommending the issue of bonus shares to Ministry of Shipping, Road Transport & Highways, Govternment of India.

On BSE, 1.81 lakh shares were traded in the counter. The scrip had an average daily volume of 82,216 shares in the past one quarter.

The stock hit a high of Rs 264 and a low of Rs 249.15 so far during the day. The stock had a 52-week high of Rs 332 on 3 January 2008 and the stock hit a 52-week low of Rs 154 on 22 January 2008.

The mid-cap stock had outperformed the market over the past one month till 13 May 2008, rising 15.07% compared to the Sensex's return of 5.98%. It had also outperformed the market in the past one quarter, rising 23.69% compared to Sensex's fall of 1.16%.

The company's current equity is Rs 282.30 crore. Face value per share is Rs 10.

The current market price of Rs 260.05 discounts its Q3 December 2007 annualised EPS of Rs 25.05 by a PE multiple of 10.38.

The company will consider bonus issue at its board meeting scheduled on 20 May 2008.

Shipping Corporation of India (SCI), a state-run shipping company, operates and manages a fleet of line vessels, tankers, bulk carriers, passenger vessels and off shore vessels.

The company's net profit declined 22% to Rs 176.78 crore on 11.5% decline in sales to Rs 915.27 crore in Q3 December 2007 over Q3 December 2006.

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