Hot Pursuit     06-Feb-10
Simplex Infrastructures strengthens as promoter revokes pledged shares
Simplex Infrastructures gained 1.69% to Rs 426.50 at 11:59 IST on BSE, after the company said one of the promoter group companies revoked a substantial portion of pledged shares.

The company made this announcement after market hours on Friday, 5 February 2010.

Meanwhile, the BSE Sensex was up 123.74 points, or 0.78% to 15,914.67.

On BSE, 261 shares were traded in the counter as against an average daily volume of 7,796 shares in the past one quarter.

The stock hit a high of Rs 428 and a low of Rs 423 so far during the day.

The company's equity capital is Rs 9.89 crore. Face value per share is Rs 2.

The current price of Rs 426.50 discounts the company's Q3 December 2009 annualized EPS of Rs 18.59, by a PE multiple of 22.94.

RBS Credit & Financial Developments, a promoter group company, has revoked 2.50 lakh pledged shares, representing 0.51% of the equity capital of the company. Till 31 December 2009, RBS Credit & Financial Developments had pledged 3.50 lakh shares, representing 0.71% of the equity capital of the company.

The total promoter shareholding in the company is 54.74% (as on 31 December 2009).

Simplex Infrastructures' net profit declined 8.6% to Rs 23.08 crore on 16.1% fall in net sales to Rs 1065.02 crore in Q3 December 2009 over Q3 December 2008.

Simplex Infrastructures provides infrastructure solutions in power, industrial construction, urban infrastructure, marine, high-rise building, roads and bridges segments. The company provides comprehensive services across ground engineering.

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