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Suprajit Engineering hits the roof after fixing record date for stock-split, bonus

Capital Market / 12:31 , Mar 11, 2010

Suprajit Engineering was locked at 5% upper limit at Rs 171.90 at 12:29 IST on BSE, after the company fixed 20 March 2010 as the record date for a 5-for-1 stock split and a liberal 1:1 bonus issue.

The company announced the record date during trading hours today, 11 March 2010.

Meanwhile, the BSE Sensex was up 6.02 points, or 0.04% to 17,104.35.

On BSE, 11,016 shares were traded in the counter as against an average daily volume of 15,089 shares in the past one quarter.

The stock hit a high of Rs 171.90 and a low of Rs 167.60 so far during the day.

The company's equity capital is Rs 6. Face value per share is Rs 5.

The current price of Rs 171.90 discounts the company's Q3 December 2009 annualized EPS of Rs 23.13, by a PE multiple of 7.43.

This is the second bonus from Suprajit Engineering. Earlier, the company had issued a liberal 1:1 bonus on March 2004.

Suprajit Engineering's net profit jumped 328.4% to Rs 6.94 crore on 40.4% surge in net sales to Rs 55.22 crore in Q3 December 2009 over Q3 December 2008.

The company is engaged in manufacturing and selling auto components. It produces automotive, non-automotive and push pull cables. The automotive cables includes brake cables, clutch cables, throttle-cables, sear shifi cables, choke cables, speedometer cables, tachometer cables, window regulator cables, mirror cable assemblies, seat rediner cables and latch release cables. Non-automotive cables include washing machines, material handling, earth moving equipment, marine applications, ATVs and lawn movers tractors.

 



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