Neyveli Lignite Corporation jumped 6.51% to Rs 148 at 9:56 IST on BSE after reporting 1357.10% surge in net profit to Rs 384.68 crore on 128.9% jump in net sales to Rs 801.74 crore in Q4 March 2008 over Q4 March 2007.
The company announced the results after trading hours on Tuesday, 27 May 2008.
Meanwhile, the BSE Sensex was up 84.87 points, or 0.52%, to 16,360.46.
On BSE, 49,343 shares were traded in the counter. The scrip had an average daily volume of 11.09 lakh shares in the past one quarter.
The stock hit a high of Rs 148 and a low of Rs 142.10 so far during the day. The stock had a 52-week high of Rs 273.90 on 4 January 2008 and the stock hit a 52-week low of Rs 58.85 on 12 June 2007.
The mid-cap company had underperformed the market over the past one month till 27 May 2008, declining 5.99% compared to the Sensex’s decline of 4.35%. It had also underperformed the market in the past one quarter, declining 10.70% compared to Sensex’s decline of 8.70%.
The company’s current equity is Rs 1677.71 crore. Face value per share is Rs 10.
The current price of Rs 148 discounts its Q4 March 2008 annualised EPS of Rs 9.17, by a PE multiple of 16.14.
Neyveli Lignite Corporation (NLC)’s net profit surged 94.36% to Rs 1101.57 crore on 34.48% rise in total income to Rs 3638.07 crore in the year ended March 2008 over the year ended March 2007.
On 15 May 2008, NLC got approval from the Union government for development of 1000-megawatt coal based thermal power project at Tuticorin in Tamil Nadu.
Neyveli Lignite Corporation’s principal activities are exploration of lignite mines and power generation. The company owns three lignite mines and two thermal power stations in Neyveli and Cuddalore district in the state of Tamil Nadu. It generates power by using lignite as fuel.
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