Tata Metaliks has moved higher by 10% to Rs 113, also its 52-week high on BSE, after reporting a robust consolidated net profit of Rs 34.32 crore for the first quarter ended June 30, 2014 (Q1), on back of strong operational performance. The Tata Group firm had net loss of Rs 13.21 crore during the same quarter last fiscal.
The company’s net sales however grew 5% to Rs 356 crore during the quarter under review against Rs 341 crore in a year ago quarter. Total expenditure declined 11% to Rs 306 crore over the previous year quarter.
The stock opened at Rs 104 and has seen over three-fold jump in trading volumes. A combined 6.96 million shares changed hands on the counter till 1445 hours on NSE and BSE.
Meanwhile, the stock has rallied 59% in past one week from Rs 72 on July 14, compared to 3% rise in benchmark S&P BSE Sensex.
The company’s net sales however grew 5% to Rs 356 crore during the quarter under review against Rs 341 crore in a year ago quarter. Total expenditure declined 11% to Rs 306 crore over the previous year quarter.
The stock opened at Rs 104 and has seen over three-fold jump in trading volumes. A combined 6.96 million shares changed hands on the counter till 1445 hours on NSE and BSE.
Meanwhile, the stock has rallied 59% in past one week from Rs 72 on July 14, compared to 3% rise in benchmark S&P BSE Sensex.