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REMI METALS Plunges 4%; BSE METAL Index Up 0.2%
Wed, 24 Jul 9:53

REMI METALS Plunges 4%; BSE METAL Index Up 0.2%Image source: ThinkNeo/www.istockphoto.com

REMI METALS share price has plunged 4% and is presently trading at Rs 47.5.

Meanwhile, the BSE METAL index is at 31,585.8 (up 0.2%).

Among the top losers in the BSE METAL index today are APOLLO TUBES (down 1.0%) and Hindalco (down 0.9%).

Hindustan Zinc (up 2.4%) and SAIL (up 1.9%) are among the top gainers today.

Over the last one year, REMI METALS has moved up from Rs 27.9 to Rs 47.5, registering a gain of Rs 19.5 (up 69.9%).

On the other hand, the BSE METAL index has moved up from 21,065.4 to 31,585.8, registering a gain of 49.9% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were NMDC (up 113.0%), Coal India (up 111.8%) and Hindustan Zinc (up 101.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,171.2 (down 0.3%).

The top losers among the BSE Sensex today are Hindustan Unilever (down 2.7%) and Bajaj Finance (down 2.2%). The most traded stocks in the BSE Sensex are ITC and Tata Steel.

In the meantime, NSE Nifty is at 24,375.4 (down 0.4%). Hindustan Unilever and Tata Consumer Products are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,171.2, registering a gain of 13,786.4 points (up 20.8%).

REMI METALS Financial Update...

REMI METALS net profit fell 82.5% YoY to Rs 20 million for the quarter ended June 2024, compared to a profit of Rs 111 million a year ago. Net sales declined 0.4% to Rs 1,621 million during the period as against Rs 1,628 million in April-June 2023.

For the year ended March 2023, REMI METALS reported 57.6% increase in net profit to Rs -137 million compared to net loss of Rs 324 million during FY22. Revenue of the company grew 155.9% to Rs 4,178 million during FY23.

The current Price to earnings ratio of REMI METALS, based on rolling 12 month earnings, stands at 47.2.

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