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STEELCAST Gains 4%; BSE METAL Index Down 0.2%
Wed, 9 Oct 10:32

STEELCAST Gains 4%; BSE METAL Index Down 0.2%Image source: Ivcandy/www.istockphoto.com

STEELCAST share price has zoomed 4% and is presently trading at Rs 777.4.

Meanwhile, the BSE METAL index is at 33,078.5 (down 0.2%).

Among the top gainers in the BSE METAL index today are NMDC (up 0.8%) and Jindal Steel (up 0.4%).

Vedanta (down 0.8%) and JSW Steel (down 0.8%) are among the top losers today.

Over the last one year, STEELCAST has moved up from Rs 669.9 to Rs 777.4, registering a gain of Rs 107.5 (up 16.0%).

On the other hand, the BSE METAL index has moved up from 22,378.1 to 33,078.5, registering a gain of 47.8% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 125.3%), Coal India (up 71.6%) and Hindustan Zinc (up 62.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,965.2 (up 0.4%).

The top gainers among the BSE Sensex today are Bajaj Finance (up 2.6%) and Axis Bank (up 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,117.6 (up 0.4%). Shriram Transport and Trent are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.4 to 81,965.2, registering a gain of 16,452.8 points (up 25.1%).

STEELCAST Financial Update...

STEELCAST net profit fell 36.2% YoY to Rs 129 million for the quarter ended June 2024, compared to a profit of Rs 203 million a year ago. Net sales declined 35.0% to Rs 777 million during the period as against Rs 1,195 million in April-June 2023.

For the year ended March 2024, STEELCAST reported 6.3% increase in net profit to Rs 750 million compared to net profit of Rs 705 million during FY23. Revenue of the company fell 14.1% to Rs 4,098 million during FY24.

The current Price to earnings ratio of STEELCAST, based on rolling 12 month earnings, stands at 23.3.

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