Tata Metaliks loses its sheen

Tata Metaliks loses its sheen

Tata Metaliks declined 5.58% to Rs 170.85 at 13:55 IST on BSE, even as the company said Kalimati Investments, a wholly owned subsidiary of Tata Steel has acquired 6.04 lakh shares in the company.

The company made this announcement after trading hours on Thursday, 7 February 2008.

Meanwhile, BSE Sensex was down 117.14 points or 0.67% to 17,409.79.

On BSE, 38,499 shares were traded in the counter. The scrip had an average daily volume of 65,263 shares in the past one quarter.

The stock hit a high of Rs 185.90 and a low of Rs 168 so far during the day. The stock had a 52-week high of Rs 224 on 1 January 2008 and a 52-week low of Rs 80 on 2 April 2007.

The small-cap scrip had outperformed the market over the past one month till 7 February 2008, declining 11.75% compared to the Sensex’s decline of 16.02%. It had also outperformed the market in the past one quarter, gaining 19.76% compared to Sensex’s decline of 7.30%.

The company’s current equity is Rs 25.29 crore. Face value per share is Rs 10.

The current price of Rs 170.85 discounts its Q3 December 2007 annualized EPS of Rs 25.09, by a PE multiple of 6.81.

Tata Metaliks has now become a subsidiary of Tata Steel.

Tata Metaliks reported a net profit of Rs 15.86 crore in Q3 December 2007 as compared to net loss of Rs 1.12 crore in Q3 December 2006. Net sales rose 83.7% to Rs 271.92 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing foundry grade pig iron and machined grey iron castings. The company's manufacturing facility operates at Gokulpur near Kharagpur, West Bengal.