Results booster for CMC

DALAL STREET SPIKES

CMC stock was the biggest gainer among the tech stocks on impressive results and announcement of TCS IPO. The counter in Tuesday's trading gained 9.16 per cent to Rs 562 after hitting the day's high of Rs 583.90 on sustained buying interest after the company announced improved quarterly results on Saturday.

For quarter ended June 30, 2004, the company posted a net profit of Rs 17.82 crore as against Rs 8.15 crore in the same quarter last year on total income of Rs 184.77 crore. The counter in today's trading witnessed impressive volumes of 1.21 lakh shares on the BSE.

On consolidated basis, for quarter ended June 30, 2004, the CMC group posted a net profit of Rs 18.74 crore as against Rs 8.59 crore on total income of Rs 190.97 crore.