Scripscan:Golden Tobacco Ltd
cmp:109
Code:500151
Story:Golden Tobacco, a Sanjay Dalmia promoted company manufactures and markets cigarettes and processed tobacco. The company makes various categories of cigarettes, namely full flavor, lights, ultra lights, menthol, menthol lights and extra menthol lights.Golden Tobacco holds a 7.5-acre property in western Mumbai. Reports estimated that the property, which is located in the upmarket Juhu Scheme, is worth at least Rs 200 crore.On 24 September 2008, Golden Tobacco's board of directors approved de-merger realty business in into a separate company.Shareholders will get one equity share in the new company for each share held in the existing company.The small-cap cigarette maker has a current equity capital of Rs 17.60 crore. Face value per share is Rs 10.The current price of Rs 109.40 discounts the company's Q2 September 2009 annualised EPS of Rs 0.27, by a PE multiple of 405.18.Golden Tobacco was locked today at upper limit of 5% at Rs 109.40 on BSE on reports Pramod Jain and Pranidhi Holdings have made a voluntary open offer for acquiring 20% the company at Rs 101 per share.Now to me the scrip is in strong momentum and will see higher levels which would present a good oppurtunity to the shareholders for exiting the counter.The main core business is doing nothing great neither thers any major potential.Demerger of the realty business is just a feel good factor here.So folks exit the counter when the circuits stops and make a switch to a better company with good prospects backed by an efficent and visonary pedigree team.
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Thursday, November 12, 2009
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