Tata Metaliks loses sheen

Tata Metaliks declined 2.65% to Rs 170.65 at 11:42 IST on BSE following reports the company is planning to invest Rs 1000 crore to build a 0.8 million tonnes plant for manufacturing long products in the state Karnataka.

The stock hit a high of Rs 174.90 and a low of Rs 166.50 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 113 on 22 January 2008.

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

The current price of Rs 170.65 discounts its Q4 March 2008 annualised EPS of Rs 40.41, by a PE multiple of 4.22.

In February 2008, Kalimati Investments, a wholly owned subsidiary of Tata Steel acquired 6.04 lakh shares in Tata Metaliks.

Tata Metaliks’ net profit rose 66% to Rs 25.55 crore on 49.6% increase in net sales to Rs 311.73 crore in Q4 March 2008 over Q4 March 2007.

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.