Visa Steel gains on strong quarterly earnings
The company announced the results during trading hours today, 28 May 2008.
On BSE, 6 lakh shares were traded in the counter. The scrip had an average daily volume of 1.14 lakh shares in the past one quarter.
The stock hit a high of Rs 61.80 and a low of Rs 58.55 so far during the day. The stock had a 52-week high of Rs 65.65 on 2 January 2008 and the stock hit a 52-week low of Rs 30 on 6 August 2007.
The small-cap company had outperformed the market over the past one month till 27 May 2008, gaining 21.75% compared to the Sensex's decline of 4.35%. It had also outperformed the market in the past one quarter, rising 20.63% compared to Sensex's decline of 8.70%.
The company's current equity is Rs 110.24 crore. Face value per share is Rs 10.
The current price of Rs 60.65 discounts its Q3 December 2007 annualised EPS of Rs 4.94, by a PE multiple of 12.28.
Visa Steel's net profit rose 110% to Rs 43.15 crore on 27% growth in total income to Rs 682.81 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).
The company manufactures pig iron and chrome concentrates. The group operates in two segments namely manufacturing and trading. The manufacturing facilities are in Kalinganagar and Golagoan in Orissa.