Business Daily from THE HINDU group of publications
Thursday, Dec 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Dec 20, 2007 ePaper | Mobile/PDA Version |
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Stocks Markets - Stock Markets Columns - Ear to the ground A number of triggers appear to be working in favour of Excel Crop Care for a revaluation. The Rs 5 stock on Wednesday shot up nearly 9 per cent to finish at Rs 151 on the bourses. According to market sources, on top of better revenue prospects after good monsoon, the agro-chemicals company is now moving towards inorganic growth through takeovers as well as more brand buyouts. It is also understood to have identified some 3-lakh sq ft of its own area for commercial development in Goregaon in Mumbai. The market talk suggests that out of this, 1.5 lakh sq ft would be for lease rentals. No confirmation or denial, however, could be had from the company on the supposed plans. According to analysts, this lowly leveraged and high dividend (75 per cent in 2006-07) paying company has a P/E of around 7.5, much lower than its peers. Its low equity base (Rs 5.5 crore), high reserves (Rs 97.38 crore), low market capitalisation compared with sales figures and low promoter holding (less than 20 per cent) have, of late, drawn attention of some smart players. Around 3.8-lakh shares changed hands in two exchanges on Wednesday. Jayanta Mallick More Stories on : Stocks | Stock Markets | Ear to the ground | Pesticides
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