Tata Sponge Iron is currently trading at Rs 692.00, up by 51.15 points or 7.98% from its previous closing of Rs 640.85 on the BSE.
The scrip opened at Rs 705.00 and has touched a high and low of Rs 716.80 and Rs 679.10 respectively. So far 344353 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 721.80 on 01-Jul-2014 and a 52 week low of Rs 217.90 on 19-Sep-2013.
Last one week high and low of the scrip stood at Rs 676.70 and Rs 595.30 respectively. The current market cap of the company is Rs 1058.21 crore.
The promoters holding in the company stood at 54.50% while Institutions and Non-Institutions held 12.22% and 33.28% respectively.
Tata Sponge Iron has reported results for first quarter ended June 30, 2014.
The company’s net profit for the quarter increased over two fold to Rs 44.28 crore for the quarter as compared to Rs 18.04 crore for the quarter ended March 31, 2013. The company’s total income from operations rose by 23.52% at Rs 203.12 crore for the quarter under review as compared to Rs 164.44 crore for the corresponding quarter of the previous fiscal.
Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent in quality. The company has an annual manufacturing capacity of 390,000 tonnes of sponge iron from its three kilns. Its production plant is situated at Bilaipada in Orissa.
