Tata Metaliks slumped 3.35% to Rs 143 even though net earnings boosted 45.32% in Q1 June 2007. The results were annunciated in the market hours today.

The scrip has 2.73 lakh shares for trading on the BSE counter today. In the last three months, the scrip had an average daily volume of 35,107 shares.

During the day, the scrip had hit an intraday high of Rs 152.40 and an intraday low of Rs 141.50. It had touched a 52-week high of Rs 163 on 12 July 2006 and a 52-week low of Rs 80 on 2 April 2007.

The company’s stock climbed 13.07% within the last one month to 12 July 2007 as against the Sensex’s return of 7.78%. The scrip had exceeded the market over the last quarter, ascending 38.61% compared to the Sensex’s increase of 12.76%.

The share price turned down from Rs 128.65 on 28 June 2007 to Rs 124.05 on 5 July 2007. It arose since then to Rs 147.90 in expectancy of good June 2007 quarter results.

At present the company’s current equity is Rs 25.29 crore, with 2.529 crore outstanding shares of a face value of Rs 10 each. The existing market price of Rs 143 reduces its FY 2007 earning per share of Rs 11.67, by a PE multiple of 12.25.

Tata Metaliks net earning jumped 45.32% to Rs 15.36 crore in Q1 June 2007 as against Rs 10.57 crore in Q1 June 2006. Sales climbed up 32.82% to Rs 211.28 crore Q1 June 2007 versus Rs 159.07 crore in Q1 June 2006.

On 30 March 2007, Tata Metaliks decided to enter into a joint venture contract with Kubota Corporation, Japan, for making ductile iron pipes in the country. Kubota Corporation is the world head in constructing DI Pipe. The company will be the holding company of Kubota Corporations and others in the said joint venture.

Tata Metaliks makes and sells foundry-grade pig iron.