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STEELCAST Plunges 5%; BSE METAL Index Down 1.6%
Mon, 7 Oct 10:34

STEELCAST Plunges 5%; BSE METAL Index Down 1.6%Image source: DNY59/www.istockphoto.com

STEELCAST share price has plunged 5% and is presently trading at Rs 742.5.

Meanwhile, the BSE METAL index is at 33,728.1 (down 1.6%).

Among the top losers in the BSE METAL index today are APOLLO TUBES (down 3.9%) and NMDC (down 3.2%).

Over the last one year, STEELCAST has moved up from Rs 683.4 to Rs 742.5, registering a gain of Rs 59.2 (up 8.7%).

On the other hand, the BSE METAL index has moved up from 23,025.5 to 33,728.1, registering a gain of 46.5% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 117.4%), Coal India (up 66.6%) and Hindustan Zinc (up 64.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,860.9 (up 0.2%).

The top gainers among the BSE Sensex today are ITC (up 1.6%) and ICICI Bank (up 1.4%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.

In the meantime, NSE Nifty is at 25,020.7 . 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 81,860.9, registering a gain of 16,348.8 points (up 25.0%).

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 22.2.

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