Tata Metaliks share price was trading 5.34% higher on Thursday after the company posted better than the expected Q4 earning.
The company reported a 20% rise in its net profit at Rs 77 crore during the quarter ended March 31, 2020, as against a profit of Rs 64 crore, recorded in a year-ago period. Company's total income fell 12% (YoY) to Rs 4173.04 crore in the January-March quarter of the current fiscal as compared to Rs 3883.38 crore in a year-ago period.
Following the result update, Tata Metaliks share price opened with a gain of 5.34% and touched an intraday high of Rs 518 on BSE against the last closing value of Rs 491.75 on BSE.
Tata Metaliks stock has gained after 3 days of consecutive fall. The stock has risen 4.35% in one week and 17.44% in one month.
Tata Metaliks stock price trades higher than its 5, 20, 50 and 100-day moving averages but lower than 200-day moving averages.
Market capitalisation of the firm currently stands at Rs 1,418.29 crore.
Net profit fell 8.76% to Rs 165.96 crore in FY20 against Rs 181.89 crore during FY19. Total income also declined 4.85% to Rs 2050.63 crore for the year ended March 2020 against sales of Rs 2155.11 crore recorded during the previous year ended March 2019.
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