Madras Aluminium shines on stock split proposal

Madras Aluminium Company jumped 10% to Rs 897.90 at 15:25 IST on BSE after the company said its board has scheduled meeting on 16 May 2008 to consider stock split.

On BSE, 70,949 shares were traded in the counter. The scrip had an average daily volume of 5,332 shares in the past one quarter.

The stock hit a high of Rs 897.90 and a low of Rs 790 so far during the day. The stock had a 52-week high of Rs 1029.70 on 14 December 2007 and the stock hit a 52-week low of Rs 415 on 25 May 2007.

The company’s current equity is Rs 22.50 crore. Face value per share is Rs 10.

Madras Aluminium Company reported a net loss of Rs 14.84 crore in Q4 March 2008 as compared to net profit of Rs 42.19 crore in Q4 March 2007. Net sales fell 7.4% to Rs 129.11 crore in Q4 March 2008 over Q4 March 2007.

Madras Aluminium Company is engaged in the business of primary aluminum production