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Kalyani Steels falls despite reporting 7% rise in Q2 net profit

Kalyani Steels is currently trading at Rs. 225.00, down by 3.60 points or 1.57% from its previous closing of Rs. 228.60 on the BSE.

The scrip opened at Rs. 223.60 and has touched a high and low of Rs. 225.45 and Rs. 222.00 respectively. So far 1861 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 431.35 on 03-Nov-2017 and a 52 week low of Rs. 220.50 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 250.00 and Rs. 222.00 respectively. The current market cap of the company is Rs. 981.10 crore.

The promoters holding in the company stood at 64.71%, while Institutions and Non-Institutions held 4.35% and 30.94% respectively.

The company has reported 7.01% rise in its net profit at Rs 28.54 crore for second quarter ended September 30, 2018 as compared to Rs 26.67 crore for the same quarter in the previous year. Total income of the company increased by 22.32% at Rs 387.68 crore for Q2FY19 as compared Rs 316.95 crore for the corresponding quarter previous year.

Kalyani Steels offers iron and steel products, such as bars and rods alloy rolled, and bars and rods iron or non-alloy rolled.

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