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Steel Exchange Gains 11%; BSE METAL Index Up 0.7%
Wed, 24 Jul 12:2

Steel Exchange Gains 11%; BSE METAL Index Up 0.7%Image source: Sakorn BernardaSv/www.istockphoto.com

Steel Exchange share price has zoomed 11% and is presently trading at Rs 14.4.

Meanwhile, the BSE METAL index is at 31,762.4 (up 0.7%).

Among the top gainers in the BSE METAL index today are SAIL (up 3.6%) and Hindustan Zinc (up 3.0%).

APOLLO TUBES (down 1.2%) and JSW Steel (down 1.1%) are among the top losers today.

Over the last one year, Steel Exchange has moved up from Rs 13.5 to Rs 14.4, registering a gain of Rs 0.9 (up 6.7%).

On the other hand, the BSE METAL index has moved up from 21,065.4 to 31,762.4, registering a gain of 50.8% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 115.5%), NMDC (up 110.9%) and Hindustan Zinc (up 102.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,096.8 (down 0.4%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.2%) and Axis Bank (down 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,400.9 (down 0.3%). Axis Bank and Bajaj Finance are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,096.8, registering a gain of 13,712.0 points (up 20.7%).

Steel Exchange Financial Update...

Steel Exchange net profit grew 146.4% YoY to Rs 198 million for the quarter ended March 2024, compared to a loss of Rs 426 million a year ago. Net sales declined 21.6% to Rs 3,122 million during the period as against Rs 3,982 million in January-March 2023.

For the year ended March 2023, Steel Exchange reported 150.5% decrease in net profit to Rs -589 million compared to net profit of Rs 1,165 million during FY22. Revenue of the company grew 25.1% to Rs 13,754 million during FY23.

The current Price to earnings ratio of Steel Exchange, based on rolling 12 month earnings, stands at 158.4.


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