Meanwhile, BSE Sensex was up 50.84 points or 0.25% to 20,243.34.

On BSE, 53591 shares were traded in the counter. The stock had an average daily volume of 95682 shares in the past one quarter.

The stock hit a high of Rs 151.90 and a low of Rs 147.45 so far during the day. The stock hit a 52-week high of Rs 207 on 11 January 2007 and a 52-week low of Rs 84.15 on 29 November 2007.

The mid-cap scrip had outperformed the market over the past one month till 26 December 2007, surging 64.05% as compared to the Sensexs return of 5.57%. It had also outperformed the market in the past one quarter, gaining 18.05% as compared to the Sensexs rise of 17.74%.

The companys current equity is Rs 40.40 crore. Face value per share is Rs 10. Promoters hold 58.36% stake in the company (as at end September 2007).

The current price of Rs 150.50 discounts Q2 September 2007 annualized EPS of Rs 3.53 by a PE multiple of 42.63.

As per reports, Citibank, Deutsche Bank and Sequoia Capital are negotiating with Ludhiana-based Nahar Industrial Enterprises (NIEL) to pick up 15-20% in its wholly-owned subsidiary Nahar Retail for Rs 120 crore.

Nahar Retail owns Cotton County retail chain, which has 400 stores in 300 cities. It plans to take it to 500 by this fiscal-end at an investment of Rs 30 crore. The deal with one of these three private equity players is likely to be closed in a months time, and Nahar Retail might go in for public issue in 2009, reports suggest.

Nahar Industrial Enterprises (NIEL) is an integrated textile company present across the value chain from yarn to fabric and garments. NEIL also has a sugar manufacturing facility and captive power plants.

NIEL registered 76.50% fall in net profit to Rs 5.20 crore on 1.10% fall in net sales to Rs 229.26 crore in Q2 September 2007 over Q2 September 2006.

Powered byCapital Market - Live News