Maithan Alloys down after promoter shareholding rejig

Maithan Alloys was down 1.99% to Rs 931.30 at 10:12 IST on BSE after the company's promoters re-arranged their holding in the company via block deals on the BSE yesterday, 26 February 2018.

Meanwhile, the S&P BSE Sensex was down 37.02 points or 0.11% at 34,408.73. The S&P BSE Small-Cap index fell 0.06%, outperforming the Sensex.

On the BSE, 3,533 shares were traded on the counter so far as against average daily volumes of 82,006 shares in the past one quarter. The stock had hit a high of Rs 954 and a low of Rs 930 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 outperformed the market over the past one month till 26 February 2018, sliding 2.74% compared with the Sensex's 4.45% fall. The stock had also outperformed the market over the past one quarter, advancing 43.77% as against the Sensex's 2.28% rise. The scrip had also outperformed the market over the past one year, surging 119.02% as against the Sensex's 19.22% rise.

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

Prahlad Rai Agarwalla sold 3.62 lakh shares of the company to Sheela Devi Agarwalla at Rs 934 per share. Subhash Chandra Agarwalla offloaded 1.96 lakh shares and Subodh Agarwalla sold 3.59 lakh shares at Rs 950 apiece. Rita Devi bought 5.55 lakh shares.

Sheela Devi Agarwalla held 2.29%, Rita Devi 1.99%, Subhash Chandra Agarwalla 0.34%, Prahlad Rai Agarwalla 3.16% and Subodh Agarwalla owned 1.23 % stake in Maithan Alloys 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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