Maithan Alloys jumps after posting robust Q2 results

Maithan Alloys jumped 5.23% to Rs 658 at 14:20 IST on BSE after net profit jumped 570.93% to Rs 65.25 crore on 47.88% rise in total income to Rs 460.72 crore in Q2 September 2017 over Q2 September 2016.

The result was announced during market hours today, 9 November 2017. Post introduction of GST from 1 July 2017, revenue from operations for the quarter is not comparable with the previous periods.

Meanwhile, the S&P BSE Sensex was down 16.06 points, or 0.05% to 33,202.75. The S&P BSE Small-Cap index was up 52.94 points, or 0.3% at 17,550.93, outperforming the Sensex.

On the BSE, 41,783 shares were traded in the counter so far as against an average daily volume of 40,248 shares in the past one quarter. The stock had hit a high of Rs 658.40 and a low of Rs 631 so far during the day. The stock had hit a 52-week high of Rs 677.70 on 1 November 2017. The stock had hit 52-week low of Rs 201 on 24 November 2016.

The stock had outperformed the market over the past one month till 8 November 2017, gaining 17.06% compared with the Sensex's 4.41% rise. The stock had had also outperformed the market over the past one quarter, rising 32.9% as against the Sensex's 3.76% rise. The scrip had also outperformed the market over the past one year, jumping 138.62% as against the Sensex's 20.4% rise.

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

Maithan Alloys operates in the niche value-added manganese alloy segment.

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