GEE recommendes second bonus issue 1:4 after jan 1:5 Issue…

Posted by stockmarket

June 30, 2009

At the time of announcing results, the board of directors of the company recommended a 1:4 bonus. This is the second bonus issue from GEE in 2009. The company had issued a 1:5 bonus in January 2009. On BSE, 18,030 shares were traded in the counter. The stock had an average daily volume of 5,654 shares in the past one quarter.

The stock hit a high of Rs 73.50 and a low of Rs 70.20 so far during the day. The stock hit a 52-week high of Rs 79 on 5 June 2009 and a 52-week low of Rs 25 on 28 October 2008.
The small-cap stock had underperformed the market over the past one month till 29 June 2009, rising 0.29% as compared to the Sensex’s return of 1.10%. It had outperformed the market in the past one quarter, jumping 118.07% as compared to the Sensex’s return of 47.14%.
The company’s current equity is Rs 3.78 crore. Face value per share is Rs 2.
The current price of Rs 71 discounts the company’s Q3 December 2008 annualized EPS of Rs 0.54, by a PE multiple of 131.48.
GEE’s total income rose 65.51% to Rs 122.05 crore in the year ended March 2009 over the year ended March 2008.
The company is engaged in manufacturing welding rods and welding wires. Its product include mild steel, low hydrogen, cast iron, non-ferrous, cutting and chamfering, hard facing, high tensile, stainless steel, filler wires, tubular and provides maintenance services.

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