Scrips ease off highs

INVESTING INSIGHT

The steel companies on the Bombay Stock Exchange (BSE) have had a largely mixed run but closed lower at the end of three months from March 1 to June9.

The share price of Tata Steel fell from Rs 436.35 to Rs 298.10, a fall of 31.68 per cent. SAIL fell from Rs 41.50 to Rs 29.65, down by 28.55 per cent.

During the same period the share price of Asil Industries rose from Rs 5.00 to today's close of Rs 5.70, up 14 per cent. The Bhushan Steel & Strips scrip increased from Rs 76.90 to Rs 82.65 up 7.47 per cent.

Modern Steels on the other hand closed up at Rs 10.00 from Rs 6.85 up 45.98 per cent. Kanishk Steel Industries gained from Rs 5.05 to Rs 6.50 , up 28.71 per cent. The shares of Maharashtra Seamless rose from Rs 177.00 to Rs 188.60 up 6.55 per cent.

Gandhi Special Tubes however displayed a contrary trend by falling from Rs 30.70 to Rs 28.10, up 9.25 per cent.

Lloyds Steel slipped from Rs 4.57 to Rs3.43, down 24.94 per cent. Choksi Tube declined from Rs 5.00 to 3.78, down 24.4 per cent. Essar Steel climbed down 15.83 per cent from Rs 18.00 to Rs 15.15.

Jindal Iron fell from from Rs 228.20 to Rs 157.85, down 30.82 per cent and Jindal Vijaynagar Steel from Rs 9.66 to Rs 7.82, down 19.04 per cent. Kalyani Steels lost value, from Rs 49.25 to 36.54, down 25.80 per cent. Mahindra Ugine declined from 22.90 to Rs 19.85, down 13.31 per cent.