Mahindra Ugine Steel lost 2.25% to Rs 269 at 10:33 IST on BSE after the company reported a net loss of Rs 3.42 crore in Q4 March 2014 as against net profit of Rs 0.42 crore in Q4 March 2013.
The Q4 result was announced before market hours today, 22 May 2014.
Meanwhile, the S&P BSE Sensex was up 143.75 points or 0.59% at 24,441.77.
On BSE, so far 4,861 shares were traded in the counter as against average daily volume of 14,000 shares in the past two weeks.
The stock hit a high of Rs 269.35 and a low of Rs 264 so far during the day.
Mahindra Ugine Steel Company (MUSCO)'s total income from operations declined 1.5% to Rs 184.80 crore in Q4 March 2014 over Q4 March 2013.
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MUSCO reported a net profit of Rs 188.14 crore in the year ended 31 March 2014 (FY 2014) as against net loss of Rs 33.71 crore in the year ended 31 March 2013 (FY 2013). Total income from operations declined 27.02% to Rs 723.01 crore in FY 2014 over FY 2013.
Mahindra Ugine Steel Company manufactures tool, alloy and special steels. Its products are used mainly by the automobile and general engineering industries.
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