The stock ended 18.16% higher at Rs 28.95 yesterday, 27 January 2008. Meanwhile, the BSE Sensex was up 166.75 points, or 1.85%, to 9170.83 On BSE, 8.18 lakh shares were traded in the counter. The stock hit a high of Rs 33.45 and a low of Rs 30.05 so far during the day.

The stock had a 52-week high of Rs 273 on 10 June 2008 and a 52-week low of Rs 24.25 on 23 January 2009.

The small-cap toys maker has an equity capital of Rs 25.19 crore. Face value per share is Rs 10.

The current price of Rs 33 discounts its Q2 September 2008 annualised EPS of Rs 30.87, by a PE multiple of 1.06.

The government on Friday (23 January 2009) banned imports of several types of toys from China for six months, a move that pleased local manufacturers but shocked importers. The notification, however, gave no reason for the ban.

The domestic producers of toys, mainly from the small-scale sector, have been complaining about cheap toy imports.

According to industry estimates, Chinese toys account for half the country’s toy market. According to commerce ministry data, toys worth more than $24 million (or Rs 120 crore) were imported in April-June 2008-09.

A government statement issued late on Friday did not give details but industry officials said the order would ban imports of almost all toys from China.

The government said in a statement it had banned imports for six months with immediate effect in the public interest.

The Toy Association of India’s president, Raj Kumar, said the ban would severely hit imports of Chinese toys, but Indian authorities had likely taken the step in the interest of the economy.

Hanung Toys & Textiles’ net profit rose 41.6% to Rs 19.44 crore on a 43.3% rise in sales to Rs 162.97 crore in Q2 September 2008 over Q2 September 2007.

The company is engaged in the business of manufacturing and exporting of soft toys. It also manufactures and exports of home furnishings.

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Buy Hanung Toys and Textiles – 724% returns as on 09-04-10
• Hanung Toys sets up office in US
• Tata Motors to launch Nano on March 23
• Back on the road, LML gets a kickstart
• Nagarjuna Fertilizers & Chemicals tops volume on BSE