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SHARDA ISPAT Plunges 5%; BSE METAL Index Up 0.5%
Thu, 4 Jul 9:56

SHARDA ISPAT Plunges 5%; BSE METAL Index Up 0.5%Image source: bluebay2014/www.istockphoto.com

SHARDA ISPAT share price has plunged 5% and is presently trading at Rs 570.6.

Meanwhile, the BSE METAL index is at 33,731.1 (up 0.5%).

Among the top losers in the BSE METAL index today is APOLLO TUBES (down 0.4%).

Hindustan Zinc (up 2.1%) and Hindalco (up 1.3%) are among the top gainers today.

Over the last one year, SHARDA ISPAT has moved up from Rs 72.0 to Rs 570.6, registering a gain of Rs 498.6 (up 692.4%).

On the other hand, the BSE METAL index has moved up from 20,790.0 to 33,731.1, registering a gain of 62.2% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were NMDC (up 134.8%), Hindustan Zinc (up 122.1%) and Coal India (up 110.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,353.3 (up 0.5%).

The top gainers among the BSE Sensex today are ICICI Bank (up 1.9%) and HCl Tech. (up 1.8%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Motors.

In the meantime, NSE Nifty is at 24,381.6 (up 0.4%). ICICI Bank and HCl Tech. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,353.3, registering a gain of 15,148.2 points (up 23.2%).

SHARDA ISPAT Financial Update...

SHARDA ISPAT net profit grew 117.6% YoY to Rs 42 million for the quarter ended March 2024, compared to a profit of Rs 19 million a year ago. Net sales rose 25.6% to Rs 527 million during the period as against Rs 419 million in January-March 2023.

For the year ended March 2023, SHARDA ISPAT reported 32.2% increase in net profit to Rs 40 million compared to net profit of Rs 30 million during FY22. Revenue of the company grew 20.0% to Rs 1,433 million during FY23.

The current Price to earnings ratio of SHARDA ISPAT, based on rolling 12 month earnings, stands at 20.7.

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