PIL came with an IPO of 33 lakh shares at a price of 42 aggregating to 14 crs.the issue closed on 7th oct n was subscribed 43 times.
annand sarnaaaik started the business of providing information technology serveices with an initial capital of 1 lakh. In the initial yrs, the company provided system integration n networking solutions n developing software solutions in oracle n D2K tech. over the yrs, pil has transformed n grown to become an ISO 9001:2000 certified end-to-end IT services.
PIl has struck allianz with oracle,microsoft,IBM,acer,APC,sun microsystem, for the enhancement of technolofy and service offerings. it has an impressive clientele, which includes JM MORGAN STANLEY,IDBI BANK,SBI, INDIAN NAVY,CORPORATION BANK,MHADA,MTNL,IDEA CELLULAR,ONGC,IPCL,KPIT CUMMINS,RELIANCE INFOCOMM N OTHERS.
PIL was decleared a winner of the deloitte tech fast 500 asia pacific 2005 program, which acknowledges n honours fast growing tech companies across asia.
based on the current going EPS of 7 is projected for FY06.going by the prospectus, its eps is expected to go to 12 in FY07.the shares r trading at 63 discounting it 07 eps by 5.3 times against the industry level of 24 leaving ample scope for appreciation.the share has the potential to touch 120.
promoters holding arnd 63%......public holding arnd 18%
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