This PSU stock is trending today!

This PSU stock is trending today!

by 5paisa Research Team Last Updated: Dec 12, 2022 - 01:51 pm 9.8k Views
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This company provides ticketing services for arm forces.

On November 17, the market is trading flat. At 1:15 pm, the S&P BSE Sensex is trading at 61,939.94, down 0.07%, while NIFTY50 is 0.1% down on the day and trading at 18,390.80. About Sectoral performance, Capital Goods and Industrials are the top gainers, while Consumer Durables and Auto are the top losers for the day. Regarding stock-specific action, Balmer Lawrie & Company Ltd is among the top gainers.

Shares of Balmer Lawrie & Company Ltd have surged 7% and are trading at Rs 122, as of 1:15 pm. The stock opened at Rs 112.15 and so far, has made an intraday high and low of Rs 123.25 and Rs 112.15, respectively.

Balmer Lawrie & Company Ltd is involved in diversified business operations, such as travel & vacation services, industrial packaging, greases & lubricants, leather chemicals, logistic services and infrastructure, and refinery & oil field.

It is a major public-sector undertaking that is overseen by the Ministry of Petroleum and Natural Gas. This allows the company to cater to other government PSU companies and receive stable revenue from them. Balmer Lawrie is the government's preferred partner for logistics services for defence imports and ticketing services for military officials.

Highlight about the company from the investment point of view is its dividend yield and balance sheet. As per FY22, the company has a strong dividend yield of 5.82% and the company has no debt on its balance sheet.

The company has a market capitalisation of Rs 2072 crore and is currently trading at a PE multiple of 13.42x. The stock has a 52-week high and low of Rs 141.45 and Rs 103.2, respectively.

On November 3, the company announced Q2FY23 results. For the Q2FY23 quarter, the company revenue increased by 12.67% YoY to Rs 551 crore from Rs 489 crore, reported in Q2FY22. While the net profit jumped by 31% YoY and came in at Rs 34 crore.

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