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 price of Rs 107.90 discounts its Q3 December 2007 annualised EPS of Rs 54.72, by a PE multiple of 1.97.

The net profit of Lok Housing & Constructions rose 151.3% to Rs 58.66 crore on a 38.5% rise in sales to Rs 113.28 crore in Q3 December 2007 over Q3 December 2006.

Lok Housing & Constructions belongs to Lok group, and develops housing projects. The group has built several housing complexes in Mumbai.