EIH slides on poor FY 2009 numbers

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
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%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
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)

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

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Capital Market

Wednesday, July 01, 2009 (New Delhi)

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Meanwhile, the BSE Sensex was down 59.99 points, or 0.41%, 14,433.85.

On BSE, 3,691 shares were traded in the counter. The stock had an average daily volume of 86,726 shares in the past one quarter.

The stock hit a high of Rs 126.10 and a low of Rs 121.25 so far during the day. The stock hit a 52-week high of Rs 172.45 on 12 September 2008 and a 52-week low of Rs 74 on 7 November 2008.

The mid-cap stock had outperformed the market over the past one month till 30 June 2009, rising 2.98% as compared to the Sensex's 0.90% fall. It had underperformed the market in the past one quarter, gaining 45.92% as compared to the Sensex's return of 51.48%.

The company's current equity is Rs 78.59 crore. Face value per share is Rs 2.

The current price of Rs 122.25 discounts the company's Q4 March 2009 annualized EPS of Rs 6.91, by a PE multiple of 17.69.

On a consolidated basis, EIH's total income fell 6.56% to Rs 1,209.58 crore in the year ended March 2009 over the year ended March 2008. On a standalone basis, the company's net profit declined 21.54% to Rs 170.44 crore on 7.10% fall in total income to Rs 1,073.06 crore in the year ended March 2009 over the year ended March 2008. The company announced its results after market hours on Tuesday, 30 June 2009.

At the time of announcing results, the board of directors of the company recommended a dividend at the rate of Rs 1.20 per share (60%).

The terrorist attack in Mumbai in November 2008 together with depressed global economic and financial conditions adversely impacted the company's business. Trident, Mumbai one of the two hotels targeted by the terrorists was reopened on 21 December 2008, whereas The Oberoi, Mumbai is being restored and is expected to open early next year.

EIH owns and operates luxury hotels and resorts in India'. The company also manages a mid-price hotel chain in India, in addition to hotels in Egypt, Australia, Sri Lanka, Indonesia and Saudi Arabia.