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Accel Frontline gains on getting nod to merge Accel Frontline Services with itself

25 Sep 2012 Evaluate

Accel Frontline is currently trading at Rs. 31.70, up by 0.25 points or 0.79% from its previous closing of Rs. 31.45 on the BSE.

The scrip opened at Rs. 31.70 and has touched a high and low of Rs. 31.70 and Rs. 31.70 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.00 on 16-Nov-2011 and a 52 week low of Rs. 25.10 on 22-Jun-2012.

Last one week high and low of the scrip stood at Rs. 32.20 and Rs. 30.80 respectively. The current market cap of the company is Rs. 71 crore.

The promoters holding in the company stood at 67.16% while Institutions and Non-Institutions held 1.02% and 31.82% respectively.

Accel Frontline has received approved from the High Court of Madras for merger of Accel Frontline Services with itself. The merger is effective from April 01, 2011.

Accel Frontline Services is a leading provider of warranty management services in India. It operates through 36 direct centers and 264 authorized service centers and provide warranty fulfillment services to leading international brands such as Sony, Seagate, Lexmark, brother, transcend, foxconn among many others. The company had an unaudited turnover of 68.10 crore with an EBITDA of Rs 7.7 crore for year ended March 2012.

Accel Frontline is one of the India’s leading IT Service Company. Based in Chennai, the company’s core business is providing it infrastructure business, enterprise software services and managed business.

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