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WELCAST Gains 14%; BSE METAL Index Up 1.0%
Mon, 22 Jul 11:34

WELCAST Gains 14%; BSE METAL Index Up 1.0%Image source: Kameleon007 /www.istockphoto.com

WELCAST share price has zoomed 14% and is presently trading at Rs 1,600.0.

Meanwhile, the BSE METAL index is at 31,837.5 (up 1.0%).

Among the top gainers in the BSE METAL index today are NMDC (up 2.4%) and Tata Steel (up 1.5%).

Hindustan Zinc (down 1.1%) and APOLLO TUBES (down 0.4%) are among the top losers today.

Over the last one year, WELCAST has moved up from Rs 828.6 to Rs 1,600.0, registering a gain of Rs 771.4 (up 93.1%).

On the other hand, the BSE METAL index has moved up from 21,248.5 to 31,837.5, 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 116.7%), NMDC (up 110.1%) and Hindustan Zinc (up 97.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,557.0 (down 0.1%).

The top losers among the BSE Sensex today are Reliance Ind. (down 3.3%) and Kotak Bank (down 3.0%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,530.0 . Wipro and Reliance Ind. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,795.1 to 80,557.0, registering a gain of 13,761.9 points (up 20.6%).

WELCAST Financial Update...

WELCAST net profit grew 164.3% YoY to Rs 13 million for the quarter ended March 2024, compared to a loss of Rs 21 million a year ago. Net sales rose 19.9% to Rs 256 million during the period as against Rs 214 million in January-March 2023.

For the year ended March 2023, WELCAST reported 637.3% increase in net profit to Rs 26 million compared to net loss of Rs 5 million during FY22. Revenue of the company grew 9.2% to Rs 939 million during FY23.

The current Price to earnings ratio of WELCAST, based on rolling 12 month earnings, stands at 19.5.

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