The company does not have any huge requirement of funds and may liquidate Rs 500 crore order book by FY15-end.
After the new government raised the foreign direct investment limit in defence from 26 percent to 49 percent, stocks of defence companies haven't stopped buzzing yet.
Astra Microwave , which develops products used in defence, space, meteorology and telecommunication, is in no hurry to make the maximum use of the hike in defence FDI. According to MD B Malla Reddy, the company, at the moment, is not in talks for FDI investment with foreign companies.
Even if FDI comes any time soon, its benefits will be reaped only after 3-4 years from now, he adds.
The company does not have any huge requirement of funds and may liquidate Rs 500 crore order book by FY15-end.
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Astra Microwave stock price
On September 01, 2014, at 14:15 hrs Astra Microwave Products was quoting at Rs 129.70, down Rs 1.85, or 1.41 percent. The 52-week high of the share was Rs 156.45 and the 52-week low was Rs 32.45.
The company's trailing 12-month (TTM) EPS was at Rs 8.28 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 15.66. The latest book value of the company is Rs 29.49 per share. At current value, the price-to-book value of the company is 4.40.
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