NOCIL spurts on strong Q1 chemistry

News Flash

Deccan Aviation gets DGCA permission to fly abroad
Idea, BSNL agree to interconnect RCom's GSM service
Flight cancelled due to workers strike
Cancel 11 flights to & from Kolkata on 20 Aug
To launch Mumbai services on Wednesday
Deccan Aviation gets permission to fly to UK
RBI relief bonds can be used as collateral for bk loan
July Producer Price Index at 27-year high; up 1.2%
U.S. Housing Starts down 11% in July, lowest in 17 years
Board okays buy back at price not exceeding Rs.350/share
Cannot say if interest rates have peaked: NW
RBI steps, inflation to determine interest rates : NW
BSE Power up 0.26% , Bankex up 0.10%
BSE Teck down 1.38% , Consumer Durables down 1.17%
CNX MidCap down 0.29% , BSE Small Cap down 0.34%
Sensex down 0.70% at 14,543.73
Nifty down 0.56% at 4,368.25
Expectations of U.K having 2 qtrs of -ve GDP growth
See further concerns emerging in U.S economy
Govt could be lender of last resort to Fannie and Freddie
EMs have seen $20bn fund outflows in last 10 weeks
Deccan Aviation granted traffic rights on India-UK sector
Revenues seen flowing in from Q4'09: Sources
Initial order size at $20-$25mn: Sources
Contracts to be signed within 3 months: Sources
Astrazeneca, Merck visited Dishman's facilities: Sources
Dishman to get orders from Merck & Astrazeneca: Srcs
India may import 3-3.5 MT of diesel this year : Oil Secy
To raise tractor prices this month : Escorts
Aluminium, Copper prices to remain weak in H2 FY'09

Updated: 23/07/2008 | 12:00 AM IST

Manufacturing

Capital Market

Wednesday, July 23, 2008 (New Delhi)

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The company announced the results after trading hours yesterday, 22 July 2008.

Meanwhile, the BSE Sensex was up 563.10 points, or 3.99%, to 14,667.30. The market spurted today, 23 July 2008, after the Congress-led United Progressive Alliance (UPA) government late on Tuesday, 22 July 2008, retained power by winning trust vote in parliament, ending political uncertainty. A further fall in oil prices and firm global markets also boosted sentiments.

On BSE, 33,557 shares were traded in the counter. The scrip had an average daily volume of 3.68 lakh shares in the past one quarter.

The stock hit a high of Rs 25.50 and a low of Rs 23 so far during the day. The stock had a 52-week high of Rs 67.95 on 4 January 2008 and a 52-week low of Rs 17.55 on 2 July 2008.

The small-cap company had underperformed the market over the past one month till 22 July 2008, declining 1.85% compared to the Sensex’s decline of 1.32%. It had also underperformed the market in the past one quarter, declining 25.57% compared to Sensex’s decline of 15.53%.

The company has an equity capital of Rs 160.79 crore. Face value per share is Rs 10.

The current price of Rs 23.50 discounts its Q1 June 2008 annualised EPS of Rs 2.90, by a PE multiple of 8.10.

The company’s net sales rose 73.9% to Rs 128.39 crore in Q1 June 2008 over Q1 June 2007.

The company manufactures a wide range of petrochemicals like, ethylene, propylene, butadiene, benzene and their derivatives, polymers, rubber, chemicals and plastic products.