Stock Market update: Tata Metaliks Ltd shares down by 3% post Q3 results

Shares of steel and pig iron manufacturing company Tata Metaliks fall by 3% at Rs 890.55 per share against the previous close at Rs. 923.10 per share on Friday in early trade.

The shares of steel and pig iron manufacturing company Tata Metaliks Ltd fell by 3% against the previous close at Rs. 923.10 per share on Friday in early trade. The share price went down to Rs. 890.55 per equity share and down by over 32 points at 12:15 PM IST.

Today, the trade opened at a share price of Rs.887.05 per equity share and representing a decrease of 3.91% against the previous close at Rs. 923.10 per share and hit a high of Rs. 896 per share.

On January 3, 2022, Tata Metaliks Ltd announced its financial report results for quarter ending December 2021. The company reported a net income of Rs. 69,312 crore and total Profit after Tax stood at Rs. 5,029 crore.

The net revenue as of March 2021 was estimated to be around Rs. 1,924.79. Whereas, it was estimated to be around Rs. 2066.44 crore in March 2020. The Profit after Tax as of March 2021 stood at Rs. 220.62 crore as compared to Rs. 166.80 crore in the previous year during same period. Furthermore, the total EBITDA was estimated around Rs. 397 crore FY2020-2021.

Tata Metaliks Limited is a subsidiary of Tata Steel incorporated in year 1990. Tata Metaliks has its state-of-the-art manufacturing plant at Kharagpur, West Bengal, India which produces the finest quality of pig iron and ductile iron pipes in India. The plant’s annual hot metal production capacity is 500,000 tonnes out of which 200,000 tonnes is converted into Ductile Iron (DI) pipes and 300,000 tonnes into pig iron.

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