Tata Metaliks melts after poor Q1 result

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Tata Metaliks lost 4.1% to Rs 709.25 at 12:23 IST on BSE after net profit fell 11.09% to Rs 30.62 crore on 22.99% increase in net sales to Rs 387.12 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 25 July 2017.

Meanwhile, the S&P BSE Sensex was up 130.72 points, or 0.41%, to 32,358.99. The S&P BSE Small-Cap index was up 122.32 points, or 0.76%, to 16,176.57

On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 53,839 shares in the past one quarter. The stock had hit a high of Rs 730 and a low of Rs 705.50 so far during the day. The stock had hit a record high of Rs 787.75 on 11 July 2017 and a 52-week low of Rs 280 on 23 November 2016.

The stock gained 5.33% over the past one month till 25 July 2017, outperforming the Sensex's 3.5% rise. The scrip, however, underperformed the market in past one quarter, rising 7.02% as against Sensex's 7.63% rise. The scrip, however, outperformed the market in past one year, surging 61.02% as against Sensex's 14.71% rise.

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

Tata Metaliks is a producer of foundry grade pig iron.

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