Scripscan:Premier Ltd
Code:500540
Cmp:60
Breaking news:Doshi group co has equity of 30.37 crores and is engaged in business of Machine Tools and Wind Turbine components For FY11, Company achieved sales of 230cr and Pat of 18.45 crores. Eps stood at 6.07. Company paid 27% dividend.Premier Ltd has surplus land 218 acres outside Mumbai in Dombivali. It is reliably learnt that company has already struck deal to sell this land for Rs 800 crores to Manohar Joshi group called Kohinoor Group. Current marketcap of Premier is less than 200 crores. Announcement about land sale is expected anytime.Premier may use proceeds of land sale for the following purpose:
Special dividend,Reduction of debt (which currently is over 200 crores).Acquire a Machine Tool company in Europe to gain foothold in European market.Invest more in business of Wind Turbine Component, a business which is booming.Its 52 week high was Rs 125.
