The company made the announcement during market hours today, 5 December 2008.Meanwhile, the BSE Sensex was down 122.43 points, or 1.36%, to 9104.28.On BSE, 8.06 lakh shares were traded in the counter. The scrip had an average daily volume of 1.36 lakh shares in the past one quarter.The stock hit a high of Rs 42.50 and a low of Rs 38.10 so far during the day. The stock had a 52-week high of Rs 118.70 on 22 May 2008 and a 52-week low of Rs 35.25 on 2 December 2008.
The stock had underperformed the market over the past one month till 4 December 2008, declining 26.24% as compared to the Sensex's 13.18% fall. It had also underperformed the market in the past one quarter, falling 57.93% as compared to the Sensex's fall of 38.05%.The company has an equity capital of Rs 54.73 crore. Face value per share is Rs 5.The current price of Rs 40.10 discounts its Q2 September 2008 annualised EPS of Rs 44.48, by a PE multiple of 0.90.
The Reserve Bank of India has allowed foreign funds to buy shares up to 40% of Mcleod Russel India's paid-up capital from the earlier level of 24%. The company's board of directors and shareholders had already passed a resolution to that effect.Mcleod Russel India's net profit rose 33.8% to Rs 121.73 crore on a 37.3% rise in sales to Rs 279.20 crore in Q2 September 2008 over Q2 September 2007.McLeod Russel India cultivates, manufactures, and markets tea. The group owns tea estates in Assam and Dooars in West Bengal.
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