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BAJAJ STEEL Plunges 7%; BSE CAPITAL GOODS Index Down 2.2%
Mon, 7 Oct 12:50

BAJAJ STEEL Plunges 7%; BSE CAPITAL GOODS Index Down 2.2%Image source: StarLineArts/www.istockphoto.com

BAJAJ STEEL share price has plunged 7% and is presently trading at Rs 3,090.1.

Meanwhile, the BSE CAPITAL GOODS index is at 68,770.6 (down 2.2%).

Among the top losers in the BSE CAPITAL GOODS index today are Graphite India (down 5.3%) and Finolex Cables (down 4.8%).

Over the last one year, BAJAJ STEEL has moved up from Rs 1,096.0 to Rs 3,090.1, registering a gain of Rs 1,994.1 (up 181.9%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,209.1 to 68,770.6, registering a gain of 42.7% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 113.5%), Siemens (up 99.6%) and BHEL (up 96.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,367.7 (down 0.4%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 3.8%) and NTPC (down 3.7%). The most traded stocks in the BSE Sensex are Tata Steel and Axis Bank.

In the meantime, NSE Nifty is at 24,878.8 (down 0.5%). MUNDRA PORT & SEZ and NTPC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,367.7, registering a gain of 15,855.6 points (up 24.2%).

BAJAJ STEEL Financial Update...

BAJAJ STEEL net profit grew 268.3% YoY to Rs 351 million for the quarter ended June 2024, compared to a profit of Rs 95 million a year ago. Net sales rose 43.9% to Rs 1,410 million during the period as against Rs 980 million in April-June 2023.

For the year ended March 2024, BAJAJ STEEL reported 12.6% decrease in net profit to Rs 590 million compared to net profit of Rs 675 million during FY23. Revenue of the company grew 0.3% to Rs 5,510 million during FY24.

The current Price to earnings ratio of BAJAJ STEEL, based on rolling 12 month earnings, stands at 19.0.

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