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Monday, March 24, 2008


Reliance Energy surged 4.97% to Rs 1208.15 at 10:22 IST on BSE after the company said the buyback offer of the company, worth Rs 2,000 crore will begin today, 25 March 2008.

Meanwhile, the BSE Sensex was up 492.43 points, or 3.22%, to 15,781.83 on easing credit worries in the US following JP Morgan Chase & Co's improved offer to buy Bear Stearns.
On BSE, 1.45 lakh shares were traded in the counter. The scrip had an average daily volume of 12.54 lakh shares in the past one quarter.
The stock hit a high of Rs 1220 and a low of Rs 1185.10 so far during the day. The stock had a 52-week high of Rs 2631.70 on 10 January 2008 and a 52-week low of Rs 465 on 28March2007.

The large-cap scrip had underperformed the market over the past one month till 24 March 2008, declining 26.03% compared to the Sensexs fall of 11.87%. It had also underperformed the market in the past one quarter, declining 44.10% compared to Sensexs decline of 22.99%.
The companys current equity is Rs 236.53 crore. Face value per share is Rs 10.
The current price of Rs 1208.15 discounts its Q3 December 2007 annualized EPS of Rs 51, by a PE multiple of 23.69.
The buyback would be made at a maximum price of Rs 1600 a share. The last date for the buyback would be 4 March 2009.

Reliance Energys net profit rose 50% to Rs 301.60 crore on 1.5% fall in net sales to Rs 1505.49 crore in Q3 December 2007 over Q3 December 2006.
Reliance Energy is engaged in generating, transmitting and distributing electricity. It also provides electrical contracting, engineering, procurement and construction contracts and computer services.

1 comment:

berto said...

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