The derivative contracts in the underlying of GMR Infrastructure have crossed 95% of the market-wide position limit and are currently in the ban period on NSE.
The current market price of Rs 868 discounts its FY 2007 EPS of Rs 0.09 by a PE multiple of 9644. [Highly Overvalued Stock – SELL and Book Profits]
GMR Infrastructure reported net profit of Rs 12.37 crore on sales of Rs 22.01 crore in Q4 March 2007.
Net profit declined 91.89% to Rs 2.88 crore in the year ended March 2007 (FY 2007) as against Rs 35.55 crore in the year ended March 2006 (FY 2006). Sales slipped 41.9% to Rs 33.39 crore in FY 2007 (Rs 57.44 crore).
The company will unveil Q1 June 2007 results on 27 July 2007. Is GMR the new ENRON of India ?