Era Infra Engineering extends gains on new order win
Published on Thursday, September 11th, 2008 at 12:54 PMAuthor: admin (5507 Articles)
The company made this announcement during trading hours on Wednesday, 10 September 2008, when the stock gained 1.71% to Rs 485.50.
Meanwhile, the BSE Sensex was down 158.91 points, or 1.08%, to 14,503.70. The market declined on weak global cues. Asian stocks fell sharply today, 11 September 2008, after US investment bank Lehman Brothers on Wednesday, 10 September 2008, posted a record quarterly loss of $3.9 billion.
On BSE, 1,715 lakh shares were traded in the counter. The stock had an average daily volume of 41,981 shares in the past one quarter.
The stock hit a high of Rs 525 and a low of Rs 485 so far during the day. The stock has a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 410 on 26 August 2008.
The mid-cap stock had underperformed the market over the past one month till 10 September 2008, declining 5.45% as compared to the Sensexs decline of 3.33%. It had also unerperformed the market in the past one quarter, declining 11.50% as compared to the Sensexs decline of 1.52%.
The companys current equity is Rs 23.10. Face value per share is Rs 10.
The current price of Rs 492.10 discounts Q1 June 2008 annualized EPS of Rs 49.18, by a PE multiple of 10.
Yesterday, 10 September 2008, Era Infra Engineering (EIEL) said the books of the company will remain closed from 24 September 2008 to 29 September 208 (both days inclusive) for the purpose of stock split as well as for dividend payment.
On 25 August 2008, Era Infra secured an order worth Rs 42.35 crore for building housing units for industrial workers from Delhi State Industrial & Infrastructure Development Corporation.
On 22 August 2008, the company bagged an order worth Rs 111.27 crore from Central Public Works Department for up-gradation, renovation and new construction for commonwealth games 2010 in J N Stadium Sports Complex, New Delhi.
On 4 August 2008, the company bagged two different orders worth Rs 137.72 crore from two different clients.
Era Infra Engineerings net profit fell 14.3% to Rs 28.40 crore on 57.7% increase in net sales to Rs 390.93 crore in Q1 June 2008 over Q1 June 2007.
Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.
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