Tata Metaliks hits record high on sustained buying

Tata Metaliks surged 5.57% to Rs 808 at 9:37 IST on BSE, with the stock extending its recent rally on sustained buying interest.

Meanwhile, the S&P BSE Sensex was up 75.46 points or 0.24% at 31,738.20. The S&P BSE Small-Cap index advanced 95.58 points or 0.58% at 16,434.21.

On the BSE, 62,000 shares were traded on the counter so far as against the average daily volumes of 46,931 shares in the past one quarter. The stock had hit a high of Rs 809.65 so far during the day, which is a record high. The stock hit a low of Rs 781 so far during the day. The stock had hit a 52-week low of Rs 280 on 23 November 2016.

The stock had outperformed the market over the past one month till 7 September 2017, advancing 15.2% compared with the Sensex's 1.89% fall. The stock had also outperformed the market over the past one quarter, gaining 5.28% as against the Sensex's 1.25% rise. The scrip had also outperformed the market over the past one year, advancing 73.64% as against the Sensex's 9.46% rise.

The small-cap company has equity capital of Rs 25.29 crore. Face value per share is Rs 10.

Shares of Tata Metaliks have surged 27.38% in eight trading sessions to its ruling market price, from its close of Rs 634.30 on 29 August 2017.

Tata Metaliks' net profit fell 11.1% to Rs 30.62 crore on 23% growth in net sales to Rs 387.12 crore in Q1 June 2017 over Q1 June 2016.

Tata Metaliks is a producer of foundry grade pig iron.

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