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Maharashtra Seamless Plunges 4%; BSE METAL Index Down 0.2%
Tue, 30 Jul 9:46

Maharashtra Seamless Plunges 4%; BSE METAL Index Down 0.2%Image source: bluebay2014/www.istockphoto.com

Maharashtra Seamless share price has plunged 4% and is presently trading at Rs 639.6.

Meanwhile, the BSE METAL index is at 32,262.8 (down 0.2%).

Among the top losers in the BSE METAL index today are Hindalco (down 1.2%) and Vedanta (down 1.0%).

Coal India (up 1.6%) and Hindustan Zinc (up 0.5%) are among the top gainers today.

Over the last one year, Maharashtra Seamless has moved up from Rs 505.6 to Rs 639.6, registering a gain of Rs 134.1 (up 26.5%).

On the other hand, the BSE METAL index has moved up from 21,737.6 to 32,262.8, registering a gain of 48.4% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 125.6%), NMDC (up 115.2%) and Hindustan Zinc (up 99.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,407.3 (up 0.1%).

The top gainers among the BSE Sensex today are NTPC (up 4.3%) and Power Grid Corp. (up 4.0%). The most traded stocks in the BSE Sensex are Power Grid Corp. and NTPC.

In the meantime, NSE Nifty is at 24,883.3 (up 0.2%). Power Grid Corp. and NTPC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,707.2 to 81,407.3, registering a gain of 14,700.1 points (up 22.0%).

Maharashtra Seamless Financial Update...

Maharashtra Seamless net profit fell 37.6% YoY to Rs 1,344 million for the quarter ended June 2024, compared to a profit of Rs 2,153 million a year ago. Net sales declined 5.9% to Rs 11,510 million during the period as against Rs 12,229 million in April-June 2023.

For the year ended March 2023, Maharashtra Seamless reported 11.0% increase in net profit to Rs 7,676 million compared to net profit of Rs 6,916 million during FY22. Revenue of the company grew 35.8% to Rs 57,164 million during FY23.

The current Price to earnings ratio of Maharashtra Seamless, based on rolling 12 month earnings, stands at 9.6.


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