Stock Picking - Art Or Science

If there is one Legal way to Become Rich early, it is by Investing in Stocks and Real Estate. In this Blog you will not see general news which are available at numerous sites, instead u will get filtered news and opinions which matter. Many a times some small but important news were overlooked because of simultaneous big event, I try to put all those news in my Blog. The Home Page shows posts of only last 10 days. To see all the posts click on the month in the Archive section.

Tuesday, October 03, 2006

Pantaloon Retail - Way To Go

Pantaloon Board Nod For Alpha JV, Stock Split

The board of directors of Pantaloon Retail India, at its meeting held on September 30, approved an MOU with UK-based Alpha Airports Group Plc (Alpha), for forming of a 50-50 joint venture (JV) company.

According to a release issued by Pantaloon to the BSE today, the JV company will develop travel, retail and food & beverage catering businesses at the leading airports in India.

Pantaloon also reported a 47% jump in its net profit at Rs 158.3 mn in the quarter ended June 30, 2006 as against Rs 107.9 mn in the year-ago period. EPS increased to Rs 5.89 in the reporting quarter versus Rs 4.29 in the corresponding quarter a year earlier, the Mumbai-based company said in a statement. Pantaloon's sales during the April-June quarter were up 61% at Rs 5.75 bn as against Rs 3.57 bn in the year-ago quarter.

The board also approved a stock split in the ratio 1:5, ie each equity share with a face value of Rs 10 to be sub-divided into five shares of Rs 2 each.

Labels: Kishore Biyani, Pantaloon

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