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Diana Tea Co relisted today at the BSE
Diana Tea Co relisted today at the BSE. The company has undergone a capital restructuring Previously the company had a equity base of 3,75,00,000 shares of Rs 2 FV which is now consolidated into 1,50,00,000 shares of Rs 5 FV.
Diana Tea Co got re-listed on BSE today after its trading was suspended from July 29th, 2008.
The company has undergone a capital restructuring Previously the company had a equity base of 3,75,00,000 shares of Rs 2 FV which is now consolidated into 1,50,00,000 shares of Rs 5 FV. The share capital of the Diana Tea remains the same at Rs 7,50,00,000.
After the slowdown of tea industry Diana Tea Co were hard at work, reassessing, regrouping, revamping and rejuvenating the operating methodologies and business model keeping in mind the interest of the shareholders, stakeholders and blue chip clientele.
The company reported a net profit of Rs. 3.22 crores for the quarter ended June 2008 as against a net profit of 3.17 crores reported for ther entire last year.
"We are expecting a lot of buying due to the fact that the company has got re-listed with a clean slate. Also there is a lot of buoyancy in tea markets due rise in tea prices so we are expecting good returns." said Mr Sandeep Singhania MD Diana Tea Company Pvt Ltd.
The stock shot up to Rs 60.70, marking a 5 per cent gain over the last closing price of Rs 57.85 on the exchange. About 2 lakh shares have changed hands.
