Tata Sponge Iron rose 3.41% to Rs 226 at 14:03 IST on BSE after the company reported 77.4% rise in net profit to Rs 29.33 crore on 8.8% increase in sales to Rs 101.77 crore in Q1 June 2008 over Q1 June 2007.
The stock hit a high of Rs 235 and a low of Rs 221 so far during the day. The stock had a 52-week high of Rs 331 on 1 January 2008 and a 52-week low of Rs 114.20 on 19 July 2007.
The small-cap sponge iron maker has an equity capital of Rs 15.40 crore. Face value per share is Rs 10.
The current price of Rs 226 discounts its Q1 June 2008 annualised EPS of Rs 76.18, by a PE multiple of 2.96.
Tata Sponge Iron manufactures and markets sponge iron. The sponge iron is used by secondary steel producers for producing long products for meeting the demand of the construction and infrastructure sectors.
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