State-owned Scooters India was locked at 5 percent upper circuit ahead of cabinet meeting for revival plan for the company on Wednesday.
"In the last Cabinet meeting, the proposal was deferred due to the absence of Heavy Industries and Public Enterprises Minister Praful Patel in the meeting. Now, it will be taken up at tomorrow's meeting," a source said.
After the government shelved the plan to sell its entire stake in the state-owned firm, the Department of Heavy Industries (DHI) had proposed a revival package of more than Rs 200 crore.
The revival includes both cash and non-cash assistance by the government. While cash assistance implies equity infusion, grants and loans, non-cash assistance includes waiving interest, Government loan and conversion of loan into equity.
Besides, the department had consulted the Board for Reconstruction of Public Sector Enterprises, which had examined the case and later suggested a revival package.
Scooters India stock price
On November 24, 2015, Scooters India closed at Rs 27.20, down Rs 0.8, or 2.86 percent. The 52-week high of the share was Rs 35.45 and the 52-week low was Rs 21.75.
The company's trailing 12-month (TTM) EPS was at Rs 1.17 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 23.25. The latest book value of the company is Rs 10.92 per share. At current value, the price-to-book value of the company is 2.49.
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