Maithan Alloys declines amid volatility

Maithan Alloys was down 0.48% to Rs 885.50 at 12:49 IST on BSE amid intraday volatility after witnessing a series of block deals among promoter entities at Rs 895 per share on the BSE on Friday, 16 February 2018.

Meanwhile, the S&P BSE Sensex was down 371.25 points or 1.09% at 33,639.51. The S&P BSE Small-Cap index tumbled 1.57%, underperforming the Sensex.

On the BSE, 12,000 shares were traded on the counter so far as against average daily volumes of 67,770 shares in the past one quarter. The stock had hit a high of Rs 896.40 and a low of Rs 866.05 so far during the day. The stock had hit a record high of Rs 1,028 on 29 January 2018 and a 52-week low of Rs 370 on 8 March 2017.

The stock had underperformed the market over the past one month till 16 February 2018, sliding 6.08% compared with the Sensex's 2.19% fall. The stock had, however, outperformed the market over the past one quarter, advancing 41.44% as against the Sensex's 2.73% rise. The scrip had also outperformed the market over the past one year, surging 112.38% as against the Sensex's 20.17% rise.

The small-cap company has equity capital of Rs 29.11 crore. Face value per share is Rs 10.

Promoters Sheela Devi Agarwalla offloaded 3.60 lakh shares and Rita Devi sold 5.79 lakh shares. Siddhartha Shankar Agarwalla bought 1.80 lakh shares and Shankar Lal agarwalla purchased 7.59 lakh shares.

Sheela Devi Agarwalla held 2.29%, Rita Devi 1.99%, Siddhartha Shankar Agarwalla 1.37% and Shankar Lal agarwalla owned 3.12% stake end December 2017.

Maithan Alloys' net profit rose 17.6% to Rs 78.33 crore on 72.6% growth in net sales to Rs 549.09 crore in Q3 December 2017 over Q3 December 2016.

Maithan Alloys is amongst India's leading manufacturers and exporters of niche value-added manganese alloys.

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