Gallantt Metal declines after weak Q4 results

Gallantt Metal fell 2.16% to Rs 42.95 at 10:04 IST on BSE after net profit fell 53.4% to Rs 5.52 crore on 3.7% increase in net sales to Rs 179.28 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 4 May 2017.

Meanwhile, the S&P BSE Sensex was down 146.39 points, or 0.49% at 29,979.82. The S&P BSE Small-cap index was down 11.11 points, 0.07% at 15,474.64.

On the BSE, 4,599 shares were traded on the counter so far as against the average daily volumes of 23,615 shares in the past one quarter. The stock had hit a high of Rs 43.50 and a low of Rs 41.25 so far during the day.

The stock had hit a record high of Rs 55 on 8 September 2016 and a 52-week low of Rs 28.25 on 4 May 2016. The stock had underperformed the market over the past one month till 4 May 2017, declining 5.18% compared with the Sensex's 0.72% rise. The scrip had also underperformed the market over the past one quarter declining 2.98% as against the Sensex's 6.68% rise.

The small-cap company has equity capital of Rs 81.32 crore. Face value per share is Rs 10.

Gallantt Metal is engaged in the production of iron, steel, and power. The company operates in two segments: Steel and Power.

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