Small-cap inventory under ₹10, Metal Change India, gained as a lot as 8% in intraday commerce on Monday, March 3, following an replace on inventory pledge concerning its promoter Vizag Profiles Personal Restricted.
In an alternate submitting on March 1, the promoter knowledgeable that it launched a pledge on 50,00,000 shares, representing 0.42% of the full share capital, on February 27 encumbered in favour of Capri World Capital Restricted following half cost of principal mortgage taken by the promoter or promoter group.
Moreover, it pledged the launched shares in favour of Mukund Safety and Funding as safety towards the mortgage taken by the promoter and promoter group.
On the finish of the December 2024 quarter, the promoters of the corporate held a 52.90% stake, with whole promoter pledge at 98.76% of the promoter holdings, reveals Trendlyne knowledge.
Share Value Affect
Metal Change India share worth jumped 8.03% to hit the day’s excessive of ₹8.47 apiece. The inventory opened the day at ₹7.87, barely larger than the earlier shut of ₹7.84.
Regardless of at the moment’s acquire, the small-cap inventory trades nearer to its 52-week low stage of ₹7.80 per share and is sort of 50% decrease than its 52-week excessive of ₹15.85 apiece.
The inventory’s efficiency has been fairly dismal off late, with the inventory falling 45% within the final one yr and 40% within the final six months. Previously month, Metal Change India shares have misplaced 17%, whereas they’re down 24% in three months.
Metal Change Q3 Outcomes
Metal Change India, a number one producer of TMT Rebars, posted a multifold leap in Q3 revenue to ₹15.86 crore from ₹21 lakh within the year-ago interval. In the meantime, its income from operations additionally witnessed a progress of 28% year-on-year (YoY) to ₹327.78 crore.
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