Financial Daily from THE HINDU group of publications
Thursday, Aug 04, 2005
Financial Daily from THE HINDU group of publications Thursday, Aug 04, 2005 |
|
|
|
|
|
|
|
Markets
-
Stock Markets Himalya International active on growth hopes Our Bureau
Kolkata , Aug 3 HIMALYA International has been witnessing a huge volume surge on the BSE in the last few days. According to market sources, some players are punting on the possibility of improvement in its business. The stock recorded a traded quantity of over 8.5 lakh shares on the BSE. On Tuesday, before its announcement of an overseas order, the counter had seen a volume of more than 9.93 lakh shares on the exchange. The stock on Wednesday closed at Rs 15.47, after touching a 52-week high of Rs 18.20. Its two-week average daily volumes stood at 3.67 lakh shares and the price gain was 11.14 per cent on closing basis. Mr Manmohan Mallik, Managing Director of the mushrooms, baby potatoes and value-added food products exporter to the US, told Business Line that because of the improvement in margins and value additions, the company has been able to reduce losses. The company is negotiating with IDBI for the one-time settlement (OTS) of its term loan of around Rs 14 crore. Under the OTS proposal, part of the loan is to be converted into equity and interest is to be waived by IDBI. According to Mr Malik, the proposal might be cleared shortly. The company has been reporting net profits since the quarter ending September 31, 2004 and has not been providing for interest on its term loan. For the fiscal ending March 31, 2005, the company recorded sales worth Rs 17.25 crore and a net profit of Rs 37 lakh on equity capital of Rs 15.39 crore. In Q1 of 2005, its net profit figure was shown at Rs 48 lakh. Mr Malik said on the operational front, things have been improving, as the company has been able to get more market access into the US through trade channels. The company has also been able to bring down the anti-dumping duties against its exports to the US to zero, he added. After the settlement with IDBI, the company plans to augment its capacity significantly to meet the increasing order flow. According to market analysts, the current return on capital for the company is very low.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|