Lokesh Machines jumped 5.66% to Rs 44.80 at 13:57 IST on BSE, after the company said a promoter revoked a portion of shares which he had pledged earlier.
The company made this announcement during trading hours today, 30 November 2009.
Meanwhile, the BSE Sensex was up 283.97 points, or 1.68%, to 16,915.98.
On BSE, 1.04 lakh shares were traded in the counter as against an average daily volume of 97,363 shares in the past one quarter.
The stock hit a high of Rs 45.90 and a low of Rs 43.30 so far during the day.
The company’s equity capital is Rs 11.78 crore. Face value per share is Rs 10.
The current price of Rs 44.80 discounts the company’s Q2 September 2009 annualized EPS of Rs 3.43, by a PE multiple of 13.06.
Mullapudi Lokeswara Rao, a managing director and also a promoter of the company, has revoked 2.70 lakh shares representing 2.29% of the equity capital of the company out of 4.32 lakh shares representing 3.67% stake which he had pledged earlier.
Mullapudi Lokeswara Rao holds 6.42% of the equity capital of the company, whereas the total promoter shareholding in the company is 55.13% (as on 30 September 2009).
Lokesh Machines’ net profit declined 19.2% to Rs 1.01 crore on 6.1% fall in net sales to Rs 23.02 crore in Q2 September 2009 over Q2 September 2008.
The company is engaged in manufacturing and marketing CNC machines and special purpose machines. The company operates in two segments viz. machine division and components division. The plant is located at Bonthapally, Medak district in the state of Andhra Pradesh. The company operates only in India.
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