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ISMT surges on getting better grade from CRISIL Research

26 Mar 2012 Evaluate

ISMT is currently trading at Rs. 26.60, up by 0.45 points or 1.72% from its previous closing of Rs. 26.15 on the BSE.

The scrip opened at Rs. 26.10 and has touched a high and low of Rs. 26.65 and Rs. 26.10 respectively. So far 6858 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 60.40 on 08-Apr-2011 and a 52 week low of Rs. 22.25 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 28.00 and Rs. 26.00 respectively. The current market cap of the company is Rs. 390.43 crore.

The promoters holding in the company stood at 51.70% while Institutions and Non-Institutions held 14.51% and 33.79% respectively.

CRISIL Research has assigned a CRISIL IER fundamental grade of 3/5 to ISMT. The grade indicates that the company’s fundamentals are good relative to other listed equity securities in India. CRISIL Research has also assigned a valuation grade of 5/5, indicating that market price has strong upside from the current levels.

The grade is constrained by ISMT’s exposure to cyclicality of the end-user industries as well as overcapacity in the industry. Additionally, aggressive imports of seamless tubes from China have lowered the profitability of domestic manufacturers.

CRISIL IER (Independent Equity Research) is an independent, unbiased opinion on fundamentals and fair valuation of the company.

ISMT is engaged in manufacturing of specialized seamless tubes, alloy steel and proves engineering services. The company also manufactures products such as bearing rings, gear blanks, shifter sleeves, cages for constant velocity joints, swaged and machined axles, threaded and coupled casings, couplings and a host of similar products.

ISMT Share Price

119.80 0.00 (0.00%)
05-Aug-2024 15:14 View Price Chart
Peers
Company Name CMP
Tata Steel 189.10
JSW Steel 1231.65
Steel Authority 170.90
Jindal Stainless 694.45
APL Apollo Tubes 1790.40
View more..

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