Federal-Mogul Goetze India Rights Issue plan
Federal-Mogul Goetze India dropped 1.67% to Rs 64.70 on BSE after the auto parts maker’s board approved raising up to Rs 130 crore through a rights issue of shares. The company made this announcement before trading hours today, 10 June 2008. The stock hit a high of Rs 67.15 and a low of Rs 64.15 so far during the day. The stock had a 52-week high of Rs 248.17 on 26 June 2007 and a 52-week low of Rs 50.65 on 25 March 2008.
The small-cap company had outperformed the market over the past one month till 9 June 2008, declining 7.97% compared to the Sensex’s decline of 9.98%. It had underperformed the market in the past one quarter, declining 18.56% compared to Sensex’s decline of 6.56%. The company’s current equity is Rs 32.62 crore. Face value per share is Rs 10.
The company is engaged in manufacturing auto components. The products include piston rings, sintered parts and cylinder liners for two, three and four wheelers, cars, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines.
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