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Steel Exchange Plunges 6%; BSE METAL Index Down 0.7%
Mon, 7 Oct 10:2

Steel Exchange Plunges 6%; BSE METAL Index Down 0.7%Image source: peterschreiber.media/www.istockphoto.com

Steel Exchange share price has plunged 6% and is presently trading at Rs 11.8.

Meanwhile, the BSE METAL index is at 34,027.0 (down 0.7%).

Among the top losers in the BSE METAL index today are APOLLO TUBES (down 2.8%) and NMDC (down 1.4%).

Over the last one year, Steel Exchange has moved up from Rs 9.5 to Rs 11.8, registering a gain of Rs 2.3 (up 24.4%).

On the other hand, the BSE METAL index has moved up from 23,025.5 to 34,027.0, 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 119.0%), Coal India (up 68.7%) and Hindustan Zinc (up 66.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,949.6 (up 0.3%).

The top gainers among the BSE Sensex today are ITC (up 2.3%) and ICICI Bank (up 1.2%). The most traded stocks in the BSE Sensex are Bharti Airtel and Tata Steel.

In the meantime, NSE Nifty is at 25,077.8 (up 0.3%). ITC and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,949.6, registering a gain of 16,437.5 points (up 25.1%).

Steel Exchange Financial Update...

Steel Exchange net profit grew 147.6% YoY to Rs 26 million for the quarter ended June 2024, compared to a loss of Rs 54 million a year ago. Net sales rose 4.9% to Rs 2,637 million during the period as against Rs 2,513 million in April-June 2023.

For the year ended March 2024, Steel Exchange reported 118.5% increase in net profit to Rs 109 million compared to net loss of Rs 589 million during FY23. Revenue of the company fell 21.1% to Rs 10,857 million during FY24.

The current Price to earnings ratio of Steel Exchange, based on rolling 12 month earnings, stands at 74.8.

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