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MODERN STEEL Plunges 10%; BSE METAL Index Up 1.1%
Fri, 20 Sep 9:21

MODERN STEEL Plunges 10%; BSE METAL Index Up 1.1%Image source: CreativaImages/www.istockphoto.com

MODERN STEEL share price has plunged 10% and is presently trading at Rs 26.7.

Meanwhile, the BSE METAL index is at 31,738.9 (up 1.1%).

JSW Steel (up 2.9%) and Hindustan Zinc (up 1.1%) are among the top gainers today.

Over the last one year, MODERN STEEL has moved up from Rs 17.9 to Rs 26.7, registering a gain of Rs 8.8 (up 48.9%).

On the other hand, the BSE METAL index has moved up from 23,270.6 to 31,738.9, registering a gain of 36.4% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 91.4%), Coal India (up 71.0%) and Hindustan Zinc (up 55.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 83,603.0 (up 0.5%).

The top gainers among the BSE Sensex today are JSW Steel (up 2.9%) and NTPC (up 1.7%). The most traded stocks in the BSE Sensex are NTPC and Tata Steel.

In the meantime, NSE Nifty is at 25,526.0 (up 0.4%). JSW Steel and Hindalco are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,603.0, registering a gain of 16,006.2 points (up 23.7%).

MODERN STEEL Financial Update...

MODERN STEEL net profit grew 91.4% YoY to Rs 0 million for the quarter ended June 2024, compared to a loss of Rs 4 million a year ago. Net sales declined 100.0% to Rs 0 million during the period as against Rs 0 million in April-June 2023.

For the year ended March 2023, MODERN STEEL reported 81.8% decrease in net profit to Rs 138 million compared to net profit of Rs 761 million during FY22. Revenue of the company fell 100.0% to Rs 0 million during FY23.

The current Price to earnings ratio of MODERN STEEL, based on rolling 12 month earnings, stands at 41.2.


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