Nagarjuna Construction tumbles as investors rush to book profit

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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'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
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: 05/11/2009 | 12:00 AM IST

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Capital Market

Thursday, November 05, 2009 (New Delhi)

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Meanwhile, the BSE Sensex was down 287.59 points, or 1.81%, to 15624.54.

On BSE, 2.65 lakh shares were traded in the counter as against an average daily volume of 4.18 lakh shares in the past one quarter.

The stock hit a high of Rs 159.95 and a low of Rs 148.80 so far during the day. The stock had hit a 52-week high of Rs 183.80 on 15 October 2009 and a 52-week low of Rs 34.25 on 5 March 2009.

The stock had outperformed the market over the past one month till 4 November 2009, rising 3.63% as compared to the Sensex 7.13% fall. It outperformed the market in past one quarter, gaining 5.61% as against 0.51% rise in the Sensex.

The mid-cap construction company has an equity capital of Rs 51.31 crore. Face value per share is Rs 2.

The current price of Rs 149.65 discounts the company's Q2 September 2009 annualised EPS of Rs 6.85, by a PE multiple of 21.84.

Nagarjuna Construction Company had on 7 September 2009 announced that it had raised Rs 367.35 crore through qualified institutional placement (QIP). The issue was priced at Rs 132.46 per share. The proceeds of the issue will be utilized for retirement of the short-term debt and for investment in infrastructure projects like roads and power, the company said in a filing to BSE.

Early in September 2009, NCC bagged two orders aggregating Rs 481 crore from two different players.

Nagarjuna Construction Company's net profit rose 3.8% to Rs 43.92 crore on a 2% increase in sales to Rs 1066.56 crore in Q2 September 2009 over Q2 September 2008.

Nagarjuna Construction Company is engaged in constructing industrial and commercial buildings, roads, bridges, underground drainage and sewerage, stadiums, flyovers, multi-store and duplex apartments, farm and private houses.

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