Meanwhile, the BSE Sensex was up 18.94 points, or 0.12%, to 9,652.62.On BSE, 1.22 lakh shares were traded in the counter. The stock had an average daily volume of 53,592 shares in the past one quarter.The stock hit a high of Rs 130 and a low of Rs 116 so far during the day. The stock hit a 52-week high of Rs 351.80 on 7 January 2008 and a 52-week low of Rs 90.50 on 20 November 2008.
The small-cap stock had outperformed the market over the past one month till 11 December 2008, rising 12.54% as compared to the Sensex's decline of 1.97%. It had however underperformed the market in the past one quarter, declining 52.24% as compared to the Sensex's decline of 32.66%. From its recent low of Rs 99.35 on 3 December 2008 the stock climbed 27.17% after it said on 4 December 2008 that company will consider buyback of shares.
The company's current equity is Rs 15.58 crore. Face value per share is Rs 2.The current price of Rs 126.35 discounts the company's Q2 September 2008 annualized EPS of Rs 60.88, by a PE multiple of 2.07.Nava Bharat Ventures will buyback equity shares at a maximum outlay of Rs 50 crore. The maximum buyback offer size represents 6.29% of the aggregate of the company's paid up equity capital and free reserves as on 31 March 2008. The company announced the share buyback plan during market hours today, 12 December 2008.
Nava Bharat Venture's net profit surged 127.3% to Rs 118.56 crore on 157% increase in net sales to Rs 398.30 crore in Q2 September 2008 over Q2 September 2007.The company is engaged in manufacturing and selling of ferro alloys. The group operates through three segments: ferro alloys, power and sugar. The group also provides infrastructure projects.
