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REMI METALS Plunges 4%; BSE METAL Index Down 1.0%
Tue, 23 Jul 9:44

REMI METALS Plunges 4%; BSE METAL Index Down 1.0%Image source: StarLineArts/www.istockphoto.com

REMI METALS share price has plunged 4% and is presently trading at Rs 47.7.

Meanwhile, the BSE METAL index is at 31,555.4 (down 1.0%).

Among the top losers in the BSE METAL index today are Vedanta (down 3.7%) and Hindalco (down 0.8%).

NMDC (up 0.1%) is among the top gainers today.

Over the last one year, REMI METALS has moved up from Rs 27.8 to Rs 47.7, registering a gain of Rs 19.9 (up 71.5%).

On the other hand, the BSE METAL index has moved up from 21,287.1 to 31,555.4, registering a gain of 48.2% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 114.2%), NMDC (up 109.5%) and Hindustan Zinc (up 94.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,532.9 .

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.3%) and NTPC (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,518.1 . Eicher Motor and NTPC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,532.9, registering a gain of 13,435.5 points (up 20.0%).

REMI METALS Financial Update...

REMI METALS net profit grew 396.7% YoY to Rs 400 million for the quarter ended March 2024, compared to a profit of Rs 81 million a year ago. Net sales rose 9.8% to Rs 1,513 million during the period as against Rs 1,378 million in January-March 2023.

For the year ended March 2023, REMI METALS reported 57.6% increase in net profit to Rs -137 million compared to net loss of Rs 324 million during FY22. Revenue of the company grew 155.9% to Rs 4,178 million during FY23.

The current Price to earnings ratio of REMI METALS, based on rolling 12 month earnings, stands at 40.5.

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