Date:21/07/2006 URL: http://www.thehindubusinessline.com/2006/07/21/stories/2006072103071700.htm

Back Spanco Tele up on hive-off move

There seems to be a quiet accumulation in the Spanco Telesystems stock, thanks to investors who are tracking the company's strategy to focus on network infrastructure management. The wireless telecom space is generally attracting greater investments these days than before, analysts note, adding that the company's plan to hive-off stake in its call centre operations to Intelenet will unleash value for investors. The counter is trading at about 5.5x FY 2007 estimated EPS of Rs 18.4 and 3.2x FY 2008 estimated EPS of Rs 31.6.

On Thursday, it scaled up by 3.8 per cent on the BSE to close at Rs 106. The day's trading volumes stood at about 50,000 shares.

Nilanjan Dey