Liberal bonus spurs Hind Rectifiers

Hind Rectifiers rose 3.79% to Rs 153.50 at 12:40 IST on BSE after it announced issue of bonus shares in the ratio of one equity share for each equity share held.

Meanwhile, the BSE Sensex was down 9.16 points, or 0.06%, to 14,097.42.

On BSE, 33,539 shares were traded in the counter. The scrip had an average daily volume of 6,417 shares in the past one quarter.

The stock hit a high of Rs 155 and a low of Rs 148 so far during the day. The stock had a 52-week high of Rs 285 on 3 January 2008 and a 52-week low of Rs 110 on 9 June 2008.

The small-cap scrip had outperformed the market over the past one month till 24 June 2008, rising 11.92% compared to the Sensex's decline of 13.71%. It had also outperformed the market in the past one quarter, rising 19.47% compared to Sensex's decline of 12.31%.

The company has an equity capital of Rs 1.5 crore. Face value per share is Rs 2.

The current price of Rs 153.50 discounts its Q4 March 2008 annualised EPS of Rs 21.72, by a PE multiple of 7.06.

The company also announced dividend of 100% i.e. Rs 2 per share.

The company's net profit rose 32.3% to Rs 4.1 crore on 26.9% rise in sales to Rs 34.37 crore in Q4 March 2008 over Q4 March 2007.

The company is engaged in developing, designing, manufacturing and marketing semiconductor, electronic equipments and railway transportation equipments. The company operates in two segments viz. equipments and electronic components. It exports its products to Australia, Bangladesh, Canada, Columbia, Italy, Malaysia, Middle East, Pakistan, South Africa, South Korea, Spain, Sri Lanka, Thailand, UK and USA.