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Maharashtra Seamless Plunges 5%; BSE METAL Index Down 1.2%
Thu, 8 Aug 11:33

Maharashtra Seamless Plunges 5%; BSE METAL Index Down 1.2%Image source: ThinkNeo/www.istockphoto.com

Maharashtra Seamless share price has plunged 5% and is presently trading at Rs 575.3.

Meanwhile, the BSE METAL index is at 31,030.1 (down 1.2%).

Among the top losers in the BSE METAL index today are Jindal Steel (down 2.1%) and SAIL (down 1.8%).

Over the last one year, Maharashtra Seamless has moved up from Rs 485.5 to Rs 575.3, registering a gain of Rs 89.8 (up 18.5%).

On the other hand, the BSE METAL index has moved up from 21,630.2 to 31,030.1, registering a gain of 43.5% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 127.9%), NMDC (up 100.5%) and Hindustan Zinc (up 86.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,161.9 (down 0.4%).

The top losers among the BSE Sensex today are Infosys (down 2.2%) and Asian Paints (down 2.0%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,197.2 (down 0.4%). BPCL and Infosys are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,161.9, registering a gain of 13,208.4 points (up 20.0%).

Maharashtra Seamless Financial Update...

Maharashtra Seamless net profit fell 37.6% YoY to Rs 1,344 million for the quarter ended June 2024, compared to a profit of Rs 2,153 million a year ago. Net sales declined 5.9% to Rs 11,510 million during the period as against Rs 12,229 million in April-June 2023.

For the year ended March 2024, Maharashtra Seamless reported 24.0% increase in net profit to Rs 9,517 million compared to net profit of Rs 7,676 million during FY23. Revenue of the company fell 5.5% to Rs 54,041 million during FY24.

The current Price to earnings ratio of Maharashtra Seamless, based on rolling 12 month earnings, stands at 8.6.

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