Kamanwala Housing builds on record date for bonus

Kamanwala Housing Construction galloped 5.62% to Rs 99.60 at 11:44 IST on BSE, after the company said on Tuesday, 9 September 2008, its board has fixed 22 September 2008 as the record date for a liberal 1:1 bonus issue.

The company fixed the record date during trading hours today, 9 September 2008. Meanwhile, the BSE Sensex was down 152.32 points, or 1.02%, to 14,792.65. The market slipped today, 9 September 2008, tracking weaker Asian stocks that dropped on uncertainty over the health of the global economy. On BSE 20,243 shares were traded in the counter. The stock had an average daily volume of 7,331 shares in the past one quarter. The stock hit a high of Rs 100.75 and a low of Rs 95 so far during the day. The stock has a 52-week high of Rs 229.30 on 10 December 2007 and a 52-week low of Rs 67.50 on 25 March 2008. The small-cap stock had underperformed the market over the past one month till 8 September 2008, declining 15.24% as compared to the Sensex’s decline of 1.47%. It had also underperformed the market in the past one quarter, declining 23.11% as compared to the Sensex’s decline of 4.03%. The company’s current equity is Rs 6.37. Face value per share is Rs 10. The current price of Rs 99.60 discounts Q1 June 2008 annualized EPS of Rs 26.56, by a PE multiple of 3.75. Kamanwala Housing Construction’s net profit rose 37.3% to Rs 4.23 crore on 92.7% increase in net sales to Rs 33.17 crore in Q1 June 2008 over Q1 June 2007. The company is engaged in construction and sale of residential houses and commercial buildings.