Gujarat Industries slips on lower FY 2009 net profit

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SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
NO PLANS TO OFFER HOME LOANS AT 8%: NW
OCTOBER UNEMPLOYMENT RATE RISES TO 10.2% VS 9.8% (MOM)
EMPLOYERS CUT PAYROLLS BY 190,000 IN OCTOBER VS ESTIMATE OF 175,000
FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
KINGFISHER RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
KINGFISHER RAISES FUEL SURCHARGE BY RS.100 ON SECTORS UPTO 1000 KM
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.100-150 ON SECTORS UPTO 1000 KM
NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
OVER 7% GROWTH ACHIEVABLE IN FY'11
TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
GETS U.S. FDA NOD FOR GENERIC ACULAR
TO RAISE UPTO $300 MN VIA FCCBS
EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA

Updated: 23/06/2009 | 12:00 AM IST

Power

Capital Market

Tuesday, June 23, 2009 (New Delhi)

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Meanwhile, the BSE Sensex was down 236.56 points, or 1.65%, 14,089.66.

On BSE, 1.19 lakh shares were traded in the counter. The stock had an average daily volume of 1.45 lakh shares in the past one quarter.

The stock hit a high of Rs 82 and a low of Rs 79 so far during the day. The stock hit a 52-week high of Rs 93.75 on 3 June 2009 and a 52-week low of Rs 37.10 on 27 October 2008.

The mid-cap stock had underperformed the market over the past one month till 22 June 2009, falling 3.73% as compared to the Sensex's return of 3.16%. It had outperformed the market in the past one quarter, surging 93.23% as compared to the Sensex's return of 59.77%.

The company's current equity is Rs 151.25 crore. Face value per share is Rs 10.

The current price of Rs 80.40 discounts the company's Q4 March 2009 annualized EPS of Rs 7.76, by a PE multiple of 10.36.

Gujarat Industries Power Company's net sales rose 23.5% to Rs 1154.99 crore in the year ended March 2009 over the year ended March 2008. The company's net profit jumped 362.8% to Rs 29.34 crore on 1% fall in net sales to Rs 282.31 crore in Q4 March 2009 over Q4 March 2008. The company announced the results after trading hours on Monday, 2 June 2009.

At the time of announcing results, the board of directors of the company recommended a dividend at the rate of Rs 2.20 per share (22%).

The company is engaged in generating, transmitting and distributing electric power in India.