Wintac Rights Issue
Wintac spurted 9.77% to Rs 36.50 on BSE, after the company said its board will meet on 18 March 2010 to consider the issue of equity shares on rights basis. The stock hit a high of Rs 36.55 and a low of Rs 36.50 so far during the day. The stock had hit a 52-week high of Rs 36.90 on 16 December 2009 and a lifetime low of Rs 6.66 on 2 April 2009.
The current price of Rs 36.50 discounts the company’s Q3 December 2009 annualized EPS of Rs 2.56, by a PE multiple of 14.26. Wintac reported net profit of Rs 0.29 crore in Q3 December 2009 compared to net loss of Rs 0.47 crore in Q3 December 2008. Net sales rose 20.4% to Rs 4.83 crore in Q3 December 2009 over Q3 December 2008. The company produces a wide range of products in the pharmaceutical, fine chemical and agro chemical segments.
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[...] Wintac board in its meeting on 18 March 2010 has decided to issue 22,75,000 equity shares on rights basis to the existing shareholders in the ratio of one share for every two shares held at a price of Rs. 30 per share, aggregating to Rs. 682.50 lakh. *To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you* Find investments that fit your goals with Morningstar’s Premium Screeners. Rights Issue [...]