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SHARDA ISPAT Plunges 5%; BSE METAL Index Up 0.3%
Wed, 3 Jul 11:56

SHARDA ISPAT Plunges 5%; BSE METAL Index Up 0.3%Image source: KanawatTH/www.istockphoto.com

SHARDA ISPAT share price has plunged 5% and is presently trading at Rs 600.6.

Meanwhile, the BSE METAL index is at 33,324.6 (up 0.3%).

Among the top losers in the BSE METAL index today are Hindalco (down 0.9%) and APOLLO TUBES (down 0.3%).

NMDC (up 1.8%) and SAIL (up 1.3%) are among the top gainers today.

Over the last one year, SHARDA ISPAT has moved up from Rs 72.0 to Rs 600.6, registering a gain of Rs 528.6 (up 734.1%).

On the other hand, the BSE METAL index has moved up from 20,790.0 to 33,324.6, registering a gain of 60.3% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were NMDC (up 131.4%), Hindustan Zinc (up 111.0%) and Coal India (up 108.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,880.3 (up 0.6%).

The top gainers among the BSE Sensex today are HDFC Bank (up 3.1%) and Axis Bank (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 24,261.5 (up 0.6%). HDFC Bank and Tata Consumer Products are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 79,880.3, registering a gain of 14,675.3 points (up 22.5%).

SHARDA ISPAT Financial Update...

SHARDA ISPAT net profit grew 117.6% YoY to Rs 42 million for the quarter ended March 2024, compared to a profit of Rs 19 million a year ago. Net sales rose 25.6% to Rs 527 million during the period as against Rs 419 million in January-March 2023.

For the year ended March 2023, SHARDA ISPAT reported 32.2% increase in net profit to Rs 40 million compared to net profit of Rs 30 million during FY22. Revenue of the company grew 20.0% to Rs 1,433 million during FY23.

The current Price to earnings ratio of SHARDA ISPAT, based on rolling 12 month earnings, stands at 21.8.

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