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HI-TECH PIPES Plunges 5%; BSE METAL Index Down 0.6%
Thu, 17 Oct 12:3

HI-TECH PIPES Plunges 5%; BSE METAL Index Down 0.6%Image source: CreativaImages/www.istockphoto.com

HI-TECH PIPES share price has plunged 5% and is presently trading at Rs 187.5.

Meanwhile, the BSE METAL index is at 32,855.3 (down 0.6%).

Among the top losers in the BSE METAL index today are Jindal Steel (down 2.5%) and NMDC (down 2.4%).

APOLLO TUBES (up 1.1%) and Hindalco (up 0.8%) are among the top gainers today.

Over the last one year, HI-TECH PIPES has moved up from Rs 98.2 to Rs 187.5, registering a gain of Rs 89.3 (up 91.0%).

On the other hand, the BSE METAL index has moved up from 23,515.5 to 32,855.3, registering a gain of 39.7% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 108.6%), Coal India (up 57.9%) and Hindustan Zinc (up 57.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,072.8 (down 0.5%).

The top losers among the BSE Sensex today are M&M (down 2.6%) and Bajaj Finserv (down 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and Reliance Ind..

In the meantime, NSE Nifty is at 24,781.1 (down 0.8%). Bajaj Auto and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 81,072.8, registering a gain of 14,905.9 points (up 22.5%).

HI-TECH PIPES Financial Update...

HI-TECH PIPES net profit grew 125.0% YoY to Rs 181 million for the quarter ended June 2024, compared to a profit of Rs 80 million a year ago. Net sales rose 35.0% to Rs 8,670 million during the period as against Rs 6,422 million in April-June 2023.

For the year ended March 2024, HI-TECH PIPES reported 16.6% increase in net profit to Rs 439 million compared to net profit of Rs 377 million during FY23. Revenue of the company grew 13.1% to Rs 26,993 million during FY24.

The current Price to earnings ratio of HI-TECH PIPES, based on rolling 12 month earnings, stands at 61.1.

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