Uttam Galva Steels declined 4.18% to Rs 40.10 at 15:12 IST on BSE even as the company said it has raised galvanized steel price by Rs 3000 per tonnes with immediate effect due to rise in input costs.
Meanwhile, BSE Sensex was up 134.23 points or 0.82% to 16,474.12, as expectations of a US interest rate cut strengthened.
On BSE, 86,077 shares were traded in the counter. The scrip had an average daily volume of 3.77 lakh shares in the past one quarter.
The stock hit a high of Rs 41.50 and a low of Rs 39.80 so far during the day. The stock had a 52-week high of Rs 86.50 on 17 January 2007 and a 52-week low of Rs 28.30 on 6 March 2007.
The small-cap scrip had underperformed the market over the past one month till 4 March 2008, declining 14.07% compared to the Sensex’s fall of 12.44%. It had also underperformed the market in the past one quarter, declining 33.83% compared to Sensex’s decline of 17.22%.
The company’s current equity is Rs 109.15 crore. Face value per share is Rs 10.
The current price of Rs 40.10 discounts Q3 December 2007 annualized EPS of Rs 11.07 by a PE multiple of 3.62.
Uttam Galva Steels’ net profit rose 28.8% to Rs 29.15 crore on 12% growth in net sales to Rs 582.69 crore in Q3 December 2007 over Q3 December 2006. Uttam Galva Steels is engaged in manufacturing and marketing cold rolled steel and galvanized steel.
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