Maytas Infra IPO Listing : Returns 70% gains to the investors

Construction and Infrastructure Development Company Maytas Infrastructure Limited listed today on the Indian Stock Markets. The Stock has moved up by 74% in an intra-day trade to touch Rs 642.

Maytas Infrastructure IPO listed at Rs 480 and then the stock moved up based on the management’s focus on the FY 2008 earnings projection to close at Rs 614 on the BSE. While on the NSE the stock rose 70.27% to close at Rs 630.

Maytas Infrastructure , Vice Chairman, Teja Raju at the IPO launch has said that the company is forecasting FY08 revenues at Rs 1600 crore with profits expected at around Rs 100 cr. EPS for the next financial year is projected at Rs 18-19.

The company has a strong order book of Rs 4,500 crore which would be executed in the coming 2 years. The company will focus only on the construction space and would not enter the Real Estate segment.