See report on plantations
Tokyo cement company plc Voting shares will commence trading today after the sub division of its each of the issued & subscribed Ordinary Voting share into Ten (10) Ordinary Voting Shares).
There will be trading opportunities in the Voting counter as well as the Non voting counter today, since we can expect price fluctuations in both category of shares.
Non voting share closed at Rs 22.75 on 29/01/2010 up by Rs 2.00.
Tokyo cement reported a negative profit growth for the six months ended 30/09/2009. The reported profit was Rs 83,146 as against Rs 370,116 in year 2008, a drop of 78% YOY. However the profit drop was only 12% YOY for the last three months ended 30/09/2009. The company reported a profit of Rs 139,029 for the last three months as against a profit of Rs 157,638 for the same period in year 2008.
However we can expect the company to do well in future with the planned development activities in North & East areas after the end fo 30 year old civil war.
Investors who have no holding in the voting counter due to its high price earlier, now have the opportunity to collect the share at a lower price.
On considering Tokyo's future earnings potential we recommend a buy to the voting counter.
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