Vishal Information Technologies on a roll

News Flash

IL&FS Trust: Sold 24.52 million shares (3.6%) since Dec-23
47% of the current promoter stake pledged with lenders
Satyam promoters holding down to 3.60% vs 5.13% earlier
Oct-Dec crude steel output at 1.5MT, up 17% (YoY)
Tata Steel sales decline 14% to 1.07MT
India likely to send representative for OPEC meet in Feb
SRSR Holding's stake down to 3.5% vs 5.13% in Satyam
Goldman Sachs cut China GDP forecast to 6%
Saregama India gets into big budget film production
Weak Q3 earnings reflecting current stock prices
Crude futures higher;breaches $50/bbl in day trade
Urgent OPEC meeting to take place in Kuwait in Feb
Strike not to hit operations of most refiners
Strike not to affect ONGC, Oil India output
December exports to fall 1.6% (YoY): Sources
Apr-Dec exports at $130bn vs $113bn (YoY): Sources
India FY'09 export seen at $175bn: NW
Rupee closes at 48.69/$ vs 48.56/$ on Monday
Meet to discuss the demand supply situation: Sources
Meet to discuss situation post Jan output cut: Sources
Meet to take stock of US leadership, eco policy: Srcs
Non-members participating in the meeting: Sources
India too likely to send representative for meet: Srcs
Emergency OPEC meeting to take place in Kuwait
Emergency OPEC meeting to take place in February
Don't expect RBI to put cap on reverse repo: NW
No rationale behind RBI cap on reverse repo: NW
Sensex closes up 60 pts; Nifty lower by 8 pts
Ambuja Cements up 9%, Grasim up 8%, M&M up 7.4%
ACC up 7%, Satyam up 7%, HDFC Bank up 5.3%

Updated: 19/08/2008 | 12:00 AM IST

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Capital Market

Tuesday, August 19, 2008 (New Delhi)

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Recently listed Vishal Information Technologies surged 16.53% to Rs 304.15 at 13:53 IST on BSE extending a strong rally on sustained buying interest

Meanwhile, the BSE was down 240.91 points, or 1.64%, at 14403.64 on weak global cues. US stocks sank on Monday, 18 August 2008, as the prospect of more losses from the mortgage crisis hurt the shares of banks and the two biggest home finance providers, pushing all three major indexes down about 1.5%.

On BSE, 76.02 lakh shares were traded in the counter. The stock hit a high of Rs 311 and a low of Rs 258 so far during the day.

The stock is northbound since its debut on 11 August 2008. The stock advanced 34.58% to Rs 261.30 on 18 August 2008 from Rs 194.15 on 11 August 2008. On its day of debut, Vishal had settled at Rs 194.15 on BSE, a premium of 29.43% over the initial pubilc offer (IPO) price of Rs 150.

The small-cap IT-enabled services provider has an equity capital of Rs 10.68 crore. Face value per share is Rs 10.

The current price of Rs 304.15 discounts its year ended March 2008 annualised EPS of Rs 11.60, by a PE multiple of 26.21.

The company reported a net profit of Rs 12.36 crore on sales of Rs 40.87 crore in the year ended March 2008.

Vishal Information Technologies provides IT-enabled services (ITeS) in the areas of data digitisation, e-publishing and digital library.