Assam Company redeems FCCB of $ 21.07 mn; stock up 9%

Assam Company has redeemed foreign currency convertible bonds (FCCBs) of USD 21.07 million with redemption premium on March 30, 2012. The company immediately applied to the RBI for extension of time upto May 31, 2012 to repay the balance unredeemed FCCBs of USD 10.73 million. Even the company asked the bondholders to allow a grace period upto May 31st.

Assam Company touched an intraday high of Rs 7.94 and an intraday low of Rs 7.28. At 14:30 hrs the share was quoting at Rs 7.90, up Rs 0.68, or 9.42%.
 
It was trading with volumes of 426,858 shares, compared to its 5-day average of 81,756 shares, an increase of 422.11%.
 
In the previous trading session, the share closed up 3.29% or Rs 0.23 at Rs 7.22.

The company's trailing 12-month (TTM) EPS was at Rs 1.13 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 6.99. The latest book value of the company is Rs 10.15 per share. At current value, the price-to-book value of the company was 0.78. The dividend yield of the company was 2.53%.