Total expenses were at Rs 494.10 crore in the quarter under review against Rs 485.23 in the year-ago quarter.
Tata Metaliks disappointed street on July 15 as it reported 35.4 percent year-on-year decline in June quarter profit at Rs 19.6 crore on weak operating income
Total income was however higher at Rs 503.43 crore as compared to Rs 469.02 crore in April-June 2018.
At 0926 hrs, Tata Metaliks was quoting Rs 667, up 6.06 percent on the BSE.
In a regulatory filing, the company said it has acquired 27.97 lakh (27,97,000) equity shares of TML, a subsidiary of Tata Steel, at a price of Rs 642 per share aggregating to Rs 179.57 crore.
Investors’ focus should be on stocks that are fundamentally sound, are displaying earnings momentum, have a margin of safety and good corporate governance standards
The company clocked Rs 40.35-crore PAT during the corresponding quarter in the financial year 2017-18, Tata Metaliks said in a BSE filing.
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Centrum Research is bullish on Tata Metaliks has recommended buy rating on the stock with a target price of Rs 1050 in its research report dated July 27, 2018.
Centrum is bullish on Tata Metaliks has recommended buy rating on the stock with a target price of Rs 875 in its research report dated October 27, 2017.
On the technical front, 10,250-10,270 spot levels is strong support zone and the current trend is likely to continue towards 10,450-10,500.
Tata Metaliks has followed up a weak Q1 with strong numbers this time around. Topline has expanded nearly 40 percent and profits are up 55 percent. Lower other expenses too have boosted earnings.
Tata Metaliks is a stock in focus with the stock up 20 percent odd this month alone. In an interview to CNBC-TV18, Sandeep Kumar, MD of Tata Metaliks spoke about the latest happenings in the company and his outlook going ahead.
Tata Metaliks is in focus on the back of weak Q1 results. In an interview to CNBC-TV18, Sandeep Kumar, MD of the company spoke about the results and gave his outlook for the company.
The company had posted a net profit of Rs 34.44 crore in the year-ago period, Tata Metaliks said in a BSE filing.
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In an interview to CNBC-TV18, Sanjiv Paul, MD of Tata Metaliks spoke about the results and his outlook for the company.
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