Sarda Energy drops after bulk deal

Sarda Energy & Minerals lost 3.84% to Rs 377.10 at 14:52 IST on BSE after a bulk deal was executed on the scrip on NSE yesterday, 4 June 2018.

Meanwhile, the BSE Sensex was down 114.90 points, or 0.33%, to 34,896.99

On BSE, so far 26,000 shares were traded in the counter, compared with average daily volume of 18,000 shares in the past two weeks. The stock hit a high of Rs 391.05 and a low of Rs 375.05 so far during the day. The stock hit a 52-week high of Rs 639.75 on 15 January 2018. The stock hit a 52-week low of Rs 239.05 on 27 June 2017.

The small-cap company has equity capital of Rs 36.05 crore. Face value per share is Rs 10.

Asia Mineral sold 2.65 lakh shares of Sarda Energy & Minerals at an average price of Rs 398.69 per share in a bulk deal on NSE yesterday, 4 June 2018.

Net profit of Sarda Energy & Minerals rose 199.13% to Rs 54.98 crore on 68.12% rise in total income to Rs 401.01 crore in Q4 March 2018 over Q4 March 2017.

Sarda Energy & Minerals is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India.

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