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SAL STEEL Plunges 6%; BSE METAL Index Down 0.6%
Tue, 27 Aug 14:28

SAL STEEL Plunges 6%; BSE METAL Index Down 0.6%Image source: CreativaImages/www.istockphoto.com

SAL STEEL share price has plunged 6% and is presently trading at Rs 23.0.

Meanwhile, the BSE METAL index is at 32,635.4 (down 0.6%).

Among the top losers in the BSE METAL index today are JSW Steel (down 1.6%) and Jindal Steel (down 1.4%).

Hindustan Zinc (up 0.8%) and Vedanta (up 0.6%) are among the top gainers today.

Over the last one year, SAL STEEL has moved up from Rs 16.3 to Rs 23.0, registering a gain of Rs 6.7 (up 41.5%).

On the other hand, the BSE METAL index has moved up from 21,593.7 to 32,635.4, registering a gain of 51.1% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 130.9%), Vedanta (up 95.6%) and NMDC (up 88.3%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,804.8 (up 0.1%).

The top gainers among the BSE Sensex today are Maruti Suzuki (up 2.2%) and L&T (up 2.1%). The most traded stocks in the BSE Sensex are ICICI Bank and Tata Steel.

In the meantime, NSE Nifty is at 25,043.3 (up 0.1%). Shriram Transport and SBI LIFE INSURANCE are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,433.3 to 81,804.8, registering a gain of 16,371.5 points (up 25.0%).

SAL STEEL Financial Update...

SAL STEEL net profit grew 60.0% YoY to Rs 2 million for the quarter ended June 2024, compared to a profit of Rs 1 million a year ago. Net sales declined 27.9% to Rs 1,107 million during the period as against Rs 1,536 million in April-June 2023.

For the year ended March 2023, SAL STEEL reported 69.3% decrease in net profit to Rs 35 million compared to net profit of Rs 115 million during FY22. Revenue of the company fell 1.9% to Rs 4,957 million during FY23.

The current Price to earnings ratio of SAL STEEL, based on rolling 12 month earnings, stands at 375.8.

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