Friday, November 14, 2008

Taneja Aerospace Takes Off After Large Block Deal - Nov 14, 2008

Meanwhile, the BSE Sensex was down 183.86 points, or 1.92%, to 9352.77.On BSE, 11.79 lakh shares were traded in the counter. The scrip had an average daily volume of 76,545 shares in the past one quarter.The stock hit a high of Rs 29.55 and a low of Rs 28 so far during the day. The stock had a 52-week high of Rs 273.50 on 3 January 2008 and a 52-week low of Rs 25.60 on 7 November 2008.

The stock had underperformed the market over the past one month till 12 November 2008, declining 18.75% as compared to the Sensex's 9.42% decline. It had also underperformed the market in the past one quarter, falling 59.23% as compared to the Sensex's fall of 37.31%.

The small-cap aircraft maker has an equity capital of Rs 12.47 crore. Face value per share is Rs 5.

The current price of Rs 28.25 discounts its Q2 September 2008 annualised EPS of Rs 2, by a PE multiple of 14.12.

Taneja Aerospace & Aviation's net profit rose 14.7% to Rs 1.25 crore on a 81.7% rise in sales to Rs 8.16 crore in Q2 September 2008 over Q2 September 2007.

Taneja Aerospace & Aviation manufactures and markets civilian aircraft, and offers air charter services. The company produces a six seat, twin piston-engine aircraft, sells Cessna jet and turbo-prop aircraft in India, and offers short-haul regional passenger services. Taneja offers fractional ownership of its aircraft.

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