Friday, April 3, 2009

Great Offshore Sets Sail On Allotment Of Equity Share - April 03, 2009

The company made this announcement during trading hours today, 2 April 2009. Meanwhile, the BSE Sensex was up 441.55 points, or 4.46%, to 10,343.54. On BSE, 2.64 lakh shares were traded in the counter. The stock had an average daily volume of 79,746 shares in the past one quarter. The stock hit a high of Rs 271.90 and a low of Rs 253.70 so far during the day. The stock hit a 52-week high of Rs 774.50 on 22 May 2008 and a 52-week low of Rs 200 on 18 November 2008.

The small-cap stock had underperformed the market over the past one month till 1 April 2009, falling 0.62% as compared to the Sensex's 11.36% rise. It had also underperformed the market in the past one quarter, falling 0.56% as compared to the Sensex's 0.01% fall.

The company's current equity is Rs 37.14 crore. Face value per share is Rs 10.

The current price of Rs 262.45 discounts the company's Q3 December 2008 annualized EPS of Rs 62.16, by a PE multiple of 4.22.

The company had on 31 March 2009 chartered three vessels to Oil & Natural Gas Corporation (ONGC) for a period of three years in a contract valued at $65 million.

Great Offshore's net profit rose 4.9% to Rs 57.72 crore on 42.2% rise in net sales to Rs 275.83 crore Q3 December 2008 over Q3 December 2007.

Great Offshore is an integrated offshore oilfield services provider, offering a broad spectrum of services to upstream oil and gas producers.

Great Offshore had on 4 February 2009 announced that the promoters pledged more than 55.27 lakh shares representing 14.88% of the equity capital of the company. The company did not mention with whom the shares were pledged. The total promoter shareholding in the company stood at 15.73% as on 31 December 2008.

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