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Profit taking pulls down United Phosphorus

Capital Market / 13:28 , Nov 26, 2009

United Phosphorus fell 3.25% to Rs 150.10 at 13:30 IST on profit booking after the stock jumped 14.90% in the preceding three trading sessions.

Meanwhile, the BSE Sensex was down 97.18 points, or 0.57%, to 17101.77.

On BSE, 1.25 lakh shares were traded in the counter as against an average daily volume of 4.35 lakh shares in the past one quarter.

The stock hit a high of Rs 156 and a low of Rs 148.60 so far during the day. The stock had hit a 52-week high of Rs 186 on 4 August 2009 and a 52-week low of Rs 73.05 on 9 March 2009.

Shares of United Phosphorus had soared 14.90% to Rs 155.15 on 25 November 2009, from a recent low of Rs 135 on 20 November 2009. The mid-cap agrochemical company has an equity capital of Rs 87.91 crore. Face value per share is Rs 2.

The current price of Rs 150.10 discounts the company's Q2 September 2009 annualised EPS of Rs 1.99, by a PE multiple of 75.42.

United Phosphorus' net profit fell 68.3% to Rs 21.84 crore on a 11.9% decline in sales to Rs 553.02 crore in Q2 September 2009 over Q2 September 2008.

United Phosphorus is the largest Indian agrochemicals player and among the top five generic players globally in this industry. It is engaged in research, manufacture and distribution of agrochemicals and specialty chemicals across the globe.

Promoters have pledged 44 lakh shares representing 1% of the equity capital of the company. Total promoters shareholding in the company is 27.97% (As on September 2009).

 



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