The company made this announcement after trading hours on Monday, 12 May 2008.

Meanwhile, the BSE Sensex was up 150.82 points, or 0.89%, to 17,011.72, as a retreat in oil prices eased worries about inflation and after news of a takeover deal in the technology sector helped drive Wall Street higher on Monday, 12 May 2008.

On BSE, 2,167 shares were traded in the counter. The scrip had an average daily volume of 55,851 shares in the past one quarter.

The stock hit a high of Rs 339 and a low of Rs 332.50 so far during the day. The stock had a 52-week high of Rs 385.35 on 3 January 2008 and the stock hit a 52-week low of Rs 186 on 13 June 2007.

The mid-cap scrip had outperformed the market over the past one month till 12 May 2008, gaining 16.37% compared to the Sensex’s return of 6.66%. It had also outperformed the market in the past one quarter, rising 20.90% compared to Sensex’s return of 1.52%.

The company’s current equity is Rs 20.23 crore. Face value per share is Rs 2.

The current price of Rs 336 discounts its Q3 December 2007 annualised EPS of Rs 6.24, by a PE multiple of 53.85.

Commercial production at the Chinese unit commenced in the first week of May 2008, Everest Kanto Cylinder said

In April 2008, Everest Kanto Cylinder successfully completed the acquisition of all the assets of CP Industries, Inc. United States for $66.3 million.

Everest Kanto Cylinder’s net profit declined 6.4% to Rs 15.79 crore on 15.2% increase in net sales to Rs 81.57 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing high-pressure gas cylinders with the higher water capacity.