Apr 26, 2007

3i Infotech Board recommends bonus issue & dividend

3i Infotech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2007, has approved the following subject to shareholders approval:

1. Recommendation of dividend of Rs 2 par share.
2. Increase of Authorised Equity Capital from Rs 1,500 million to Rs 3,000 million.
3. Issue of Bonus shares in the ratio of 1:1.
4. New Employees' Stock Option Scheme, 2007.

Result Overview :

3i infotech has announced its fourth quarter results. The company’s Q4 consolidated net profit was up at Rs 32.2 crore (Rs 322 million) from Rs 27.9 crore (Rs 279 million).

Its income was up at Rs 211 crore (Rs 2.11 billion) versus Rs 171.6 crore (Rs 1.71 billion)
Its FY07 EPS was at Rs 17.37.

Stock Outlook : ( Positive for long term )

3i info posted number above street expectations & has shown good profits in the past quaters as well. For Company details visit : http://stockgems.blogspot.com/2007/03/fundamental-pick-130207.html

BUY 3i INFOTECH -- TARGET -- 355 + ( Short term Hold )


3i infotech should be accumulated at regular interval depending on the person's investment apetite and portfolio planning.also recently in the past one month, there has been a 30% run up for this stock. Also in past 1 month, dollar rate has some down by more than 10%. Although, it might not affect the stock directly, due to lesser offhsore projects, but it will hurt the sentiments of the IT stocks when that dollar factor starts showing up in thee IT sector, which has not yet happened.

For Long Term Investor Buy in Small Quantity & on Declines with Price target of 400 + ( CUM BONUS )


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