The company announced the approval during trading hours today, 10 December 2008.Meanwhile, the BSE Sensex was up 361.27 points, or 3.94%, to 9,523.89.On BSE, 830 shares were traded in the counter. The stock had an average daily volume of 71,686 shares in the past one quarter.The stock hit a high of Rs 99.10 and a low of Rs 80 so far during the day. The stock hit a 52-week high of Rs 424 on 10 January 2008 and a 52-week low of Rs 69.20 on 26 November 2008.
The small-cap stock had underperformed the market over the past one month till 8 December 2008, declining 12.41% as compared to the Sensex's decline of 8.05%. It had also underperformed the market in the past one quarter, declining 50.60% as compared to the Sensex's decline of 38.69%.The company's current equity is Rs 11.75 crore. Face value per share is Rs 2.The current price of Rs 86.90 discounts the company's Q2 September 2008 annualized EPS of Rs 3.78, by a PE multiple of 22.99.
Arshiya International's net profit surged 190.6% to Rs 5.55 crore on 68.3% increase in net sales to Rs 75.40 crore in Q2 September 2008 over Q2 September 2007.The company provides end-to-end services and solutions in logistics and supply chain management. The group operates in two segments: logistics operations and related services and other, which includes container freight station/free trade warehousing zone operations and related services and rail transport operations.
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