Meanwhile, the BSE Sensex was down 696.82 points, or 4.26%, to 15,671.58 on negative cues from the global markets. US stocks fell on Friday, 28 March 2008, as a profit warning from US department store chain J.C. Penney raised concerns about slowing consumer spending while persistent worries about credit-related problems throttled financial stocks. A prominent analyst warned that earnings would not support current dividend payouts in 2008 at Citigroup, Wachovia Corp and other US banks.

On BSE, 20,448 shares were traded in the counter. The scrip had an average daily volume of 88,861 shares in the past one quarter.

The stock hit a high of Rs 44.40 and a low of Rs 42.60 so far during the day. The stock had a 52-week high of Rs 96 on 3 January 2008 and a 52-week low of Rs 36 on 23 August 2007.

The small-cap scrip had underperformed the market over the past one month till 28 March 2008, declining 30.02% compared to the Sensex’s fall of 8.15%. It had also underperformed sensex in last one quarter declining 47.16% compared to sensex’s decline of 18.98%.

The company’s current equity is Rs 27.15 crore. Face value per share is Rs 5.

The current price of Rs 44.40 discounts Q1 December 2007 annualised EPS of Rs 0.09 by a PE multiple of 493.33.

Aksh Optifibre on 24 March 2008 in association with MTNL had launched the IPTV services - IPTV-Aksh-Tel in Mumbai and video phone calling services, V Spyk services in Mumbai and Delhi.

The service will offer traditional television broadcast with a high standard reception and several add on features like time-shift television, video on demand and video phone calling services between two users enabling real time calling at a personalized level over the broadband network of MTNL.

Aksh Optifibre produces variety of cables such as single-mode, multi-mode, duct, armoured, aerial, indoor and outdoor. It also has facilities to produce ribbon fibre optic cables.