18.48% Down
LIP:Rs 212.15
M Cap: 7.039 Cr
The country’s second’largest infrastructure major, primarily catering to the oil and gas space, was down 18.5 per cent during the fortnight ended November 6, At Rs 212.15, the stock is down 29 per cent from its 52-week high levels of Rs 299 clocked just a month ago, The company is facing challenges in the operations of its UK-based wholly owned subsidiary, Simon Carves, in terms of cost overruns and delays in the Completion of bioethanol project, which also affected its profitability In the first half of the current fiscal, Read More
While net sales was marginally up S per cent year-on-year to Rs 5,844 crore, net profit tanked 31 percent to Rs 176.5 crore, Experts believe the market has over-reacted to the developments and feel thai the worst may be over, The stock trades at 13 times estimated FY11 earnings, one of the cheapest in the construction and Infrastructure space. Besides, the company has a healthy order backlog of Rs 26,808 crore, which is 2.2 times its FY09 consolidated sales,
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