The company made the announcement during trading hours today, 12 December 2008.Meanwhile, the BSE Sensex was down 141.96 points, or 1.47%, to 9,503.50.On BSE, 3,417 shares were traded in the counter. The stock had an average daily volume of 6,813 shares in the past one quarter.The stock hit a high of Rs 74.45 and a low of Rs 73 so far during the day. The stock hit a 52-week high of Rs 224 on 1 January 2008 and a 52-week low of Rs 67 on 28 November 2008.
The small-cap stock had underperformed the market over the past one month till 11 December 2008, falling 12.30% as compared to the Sensex's decline of 1.97%. It had also underperformed the market in the past one quarter, declining 44.11% as compared to the Sensex's decline of 32.66%.
The company's current equity is Rs 25.29 crore. Face value per share is Rs 10.The current price of Rs 74.45 discounts the company's Q2 September 2008 annualized EPS of Rs 20.21, by a PE multiple of 3.68.
Tata Metaliks had on 17 November 2008 shut down one of its mini blast furnaces in Kharagpur for three weeks starting 18 November 2008 for repair works. The company will extend the shut down till the end of December 2008, due to non-completion of the repair works at the plant.
Tata Metaliks' net profit fell 0.5% to Rs 12.78 crore on a 27.7% rise in sales to Rs 304.53 crore in Q2 September 2008 over Q2 September 2007.Tata Metaliks is engaged in manufacturing foundry grade pig iron and machined grey iron castings. The company's manufacturing facility operates at Kharagpur in West Bengal.
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