Uttam Galva Steels advances after turnaround in Q4

Uttam Galva Steels jumped 7.95% to Rs 33.25 at 10:24 IST on BSE after the company reported net profit of Rs 138.89 crore in Q4 March 2017, compared with net loss of Rs 671.47 crore in Q4 March 2016.

The result was announced after market hours on Friday, 28 April 2017.

Meanwhile, the S&P BSE Sensex was up 84.39 points, or 0.28% at 30,002.79. The S&P BSE Small-cap index was up 97.55 points, 0.63% at 15,470.06.

High volumes were witnessed on the counter. On the BSE, 2.77 lakh shares were traded on the counter so far as against the average daily volumes of 58,154 shares in the past one quarter. The stock had hit a high of Rs 34.50 and a low of Rs 32.35 so far during the day.

The stock had hit a 52-week high of Rs 37.15 on 25 October 2016 and a 52-week low of Rs 24.65 on 9 November 2016. The stock had underperformed the market over the past one month till 28 April 2017, declining 2.53% compared with the Sensex's 1.73% rise. The scrip had also underperformed the market over the past one quarter declining 6.1% as against the Sensex's 7.3% rise.

The small-cap company has equity capital of Rs 142.26 crore. Face value per share is Rs 10.

Uttam Galva Steels' net sales fell 48.2% to Rs 893.94 crore in Q4 March 2017 over Q4 March 2016.

Uttam Galva Steels is a manufacturer of cold rolled annealed and unannealed sheets & coils, galvanised plain and corrugated sheets.

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