Texmaco Stock Split proposal
Texmaco board meet is scheduled on 16 May 2008 to consider stock split. This announcement helped the stock to jumpe 6.17% to Rs 1540 on BSE. The company made this announcement before trading hours today, 9 May 2008.The stock hit a high of Rs 1639 and a low of Rs 1470 so far during the day. The stock had a 52-week high of Rs 1965.50 on 2 January 2008 and a 52-week low of Rs 825 on 11 May 2007.
The mid-cap scrip had outperformed the market over the past one month till 8 May 2008, gaining 10.45% compared to the sensex’s return of 8.17%. The company’s current equity is Rs 10.32 crore. Face value per share is Rs 10. The current price of Rs 1540 discounts its Q4 March 2008 annualised EPS of Rs 56.46, by a PE multiple of 27.28.
Texmaco, a part of K K Birla Group, is a diversified engineering company. It manufactures railway freight cars/wagons, hydro-mechanical equipment for mega power projects, heavy steel structures and process equipment.
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