Glodyne Technoserve hardens on liberal bonus issue

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
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ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 01/07/2009 | 12:00 AM IST

Software

Capital Market

Wednesday, July 01, 2009 (New Delhi)

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The company made this announcement before trading hours today, 1 July 2009.

Meanwhile, the BSE Sensex was up 115.05 points, or 0.79%, 14,608.89.

On BSE, 641 shares were traded in the counter. The stock had an average daily volume of 10,675 shares in the past one quarter.

The stock hit a high of Rs 487.85 and a low of Rs 487.85 so far during the day. The stock hit a 52-week high of Rs 699 on 22 September 2008 and a 52-week low of Rs 161.50 on 6 February 2009.

The small-cap stock had outperformed the market over the past one month till 30 June 2009, rising 12.90% as compared to the Sensex's 0.90% fall. It had also outperformed the market in the past one quarter, surging 88.12% as compared to the Sensex's return of 51.48%.

The company's current equity is Rs 11.20 crore. Face value per share is Rs 10.

The current price of Rs 487.85 discounts the company's Q3 December 2008 annualized EPS of Rs 67.14, by a PE multiple of 7.27.

This is a maiden bonus issue from Glodyne Technoserve.

Glodyne Technoserve's net profit rose 5.25% to Rs 18.63 crore on 5.65% rise in net sales to Rs 118.22 crore in Q3 December 2008 over Q2 September 2008.

The company provides information technology (IT) services. The group operates in two segments viz. technology infrastructure management services and software services.