La Opala sets record date for share sub-divison; stock rallies

MUMBAI: Shares of La Opala surged over 5 per cent in trade after the company announced sub-division of shares.

The company has fixed September 25 as Record Date for the purpose of sub- division of shares of face value Rs 10 into the shares of Rs 2 each.

For the quarter ended June 2014, the company reported a net profit of Rs 6.11 crore, up 35 per cent, as against a net profit of Rs 4.50 crore in the corresponding quarter last fiscal.

Revenues in the period increased to Rs 41.91 crore as compared to Rs 32.18 crore in year-ago period.

The stock is trading at P/E of 48.04 times and its EPS (TTM) is Rs 29.79 per share.

At 10:00 a.m.; the stock was at Rs 1465, up 5.39 per cent, on the BSE. It touched 52-week high of Rs 1470 and a low of Rs 1412.30 in trade today.