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STEEL STRIPS & TU Plunges 7%; BSE METAL Index Up 0.3%
Wed, 21 Aug 10:6

STEEL STRIPS & TU Plunges 7%; BSE METAL Index Up 0.3%Image source: Ivcandy/www.istockphoto.com

STEEL STRIPS & TU share price has plunged 7% and is presently trading at Rs 32.1.

Meanwhile, the BSE METAL index is at 31,858.9 (up 0.3%).

Among the top losers in the BSE METAL index today are Tata Steel (down 0.6%) and Jindal Steel (down 0.1%).

Hindalco (up 0.9%) and SAIL (up 0.8%) are among the top gainers today.

Over the last one year, STEEL STRIPS & TU has moved up from Rs 25.8 to Rs 32.1, registering a gain of Rs 6.2 (up 24.2%).

On the other hand, the BSE METAL index has moved up from 21,267.9 to 31,858.9, registering a gain of 49.8% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 129.7%), Vedanta (up 91.8%) and NMDC (up 90.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,694.0 (down 0.1%).

The top losers among the BSE Sensex today are Ultratech Cement (down 2.0%) and ICICI Bank (down 0.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,697.8 . Ultratech Cement and ICICI Bank are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,216.1 to 80,694.0, registering a gain of 15,477.9 points (up 23.7%).

STEEL STRIPS & TU Financial Update...

STEEL STRIPS & TU net profit grew 3.9% YoY to Rs -3 million for the quarter ended June 2024, compared to a loss of Rs 4 million a year ago. Net sales rose 14.7% to Rs 3 million during the period as against Rs 3 million in April-June 2023.

For the year ended March 2023, STEEL STRIPS & TU reported 11.4% increase in net profit to Rs -14 million compared to net loss of Rs 15 million during FY22. Revenue of the company grew 0.4% to Rs 11 million during FY23.

The current Price to earnings ratio of STEEL STRIPS & TU, based on rolling 12 month earnings, stands at -21.1.

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