Sarda Energy shares hits 52-week high on environment nod to increase capacity

Stocks

The share touched a 52-week high of Rs 407.50 and a 52-week low of Rs 97.50 on 25 February, 2021 and 23 March, 2020, respectively.

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Sarda Energy & Minerals share price touched 52-week high of Rs 416.35, rising 5 percent intraday on March 16 after received environment nod to raise the capacity.

The Chhattisgarh Environment Conservation Board, Raipur has granted to the company the “Consent to Operate” the enhanced capacity of its iron ore pellet plant from existing 6,00,000 MTs p.a. to 8,00,000 MTs p.a. with immediate effect.

Company is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India. The company also engaged in the business of Steel, Power and Ferro.

The share touched a 52-week low of Rs 97.50 on 23 March, 2020 and currently trading 320.26 percent above its 52-week low.

The company in the quarter ended December 2020 posted a consolidated profit of Rs 116 crore against Rs 43 crore in a year ago period.

Its total income stood at Rs 642 crore versus Rs 472 crore, YoY.

sarda

The company’s trailing 12-month (TTM) EPS was at Rs 52.81 per share. (December 2020). The stock’s price-to-earnings (P/E) ratio was 7.75.

The latest book value of the company is Rs 480.31 per share.

At current value, the price-to-book value of the company was 0.85. The dividend yield of the company was 1.22 percent.