Kaushalya Infrastructure Development Corporation has surged 41.33% to touch a high of Rs 84.80 before closing the day at Rs 82.45 (up 37.42%) on the NSE. It slipped below the issue price in early trade and hit a low of Rs 59 but remained above Rs 70 through the day. It traded with volumes of 3,84,34,217 shares and made turnover of Rs 303 crore.
Prashant Mehra, MD, Kaushalya Infrastructure Development Corporation speaking to CNBC-TV18 said they see topline growth of 50% in FY09. Their order book is at Rs 145 crore and will be executed between March '08 - July '08. He informed that they are working on two projects with NTPC.
He further added that smaller orders are helping in reducing overheads and boost the bottomline. Nirman is a large contributor to the revenues. Nirman constitutes 70% of the revenue share. He said that Gram and Parivar will increase contribution to revenues from FY09 and hotel revenues will be at Rs 17 lakh.
The stock ended at Rs 82.25, with volumes of 3,21,96,790 shares on the BSE. It has touched a high/low of Rs 84.20 and Rs 63.60, respectively.
The company had entered capital market with a public issue of 85 lakh shares of Rs 10 each at a price band of Rs 50 and Rs 60.
The company would use the proceeds from the issue to fund land acquisition, land development rights and real estate development, investment in BOT/BOOT projects for joint ventures, and purchase of capital and infrastructure equipment for the execution of projects.
Source: Moneycontrol.com
Friday, December 14, 2007
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