Business Daily from THE HINDU group of publications
Friday, Sep 01, 2006
Business Daily from THE HINDU group of publications Friday, Sep 01, 2006 |
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Markets - Stocks Columns - Ear to the ground
The counter finished around 5 per cent lower on the BSE at Rs 7.74. The traded quantity was 71,687 shares, much lower than the fortnightly average volume of 2.56 lakh shares. The stock has declined by over 13 per cent in the past one week. However, in one-month timeframe, it is still a gainer by over 47 per cent. Business Line learnt that the delay in the platinum prospecting follows a boardroom upheaval in Platinum Mining Corporation of India, Ferro Alloys' 70 per cent JV partner in exploration. According to sources, the exploration work has been delayed by about eight months. Ferro Alloys Corporation, which is still implementing a revival package approved by BIFR, however, has improved its performance. It has reported a net profit of Rs 4.89 crore in the April-June 2006 quarter against a net profit of Rs 2.57 crore in January-March quarter and a net loss of Rs 6.62 crore in the October-December 2005 quarter. As on June 30, 2006, the non-promoter shareholding has also come down to 20.16 per cent in an enlarged equity capital of Rs 18.53 crore from 43.48 per cent in the total paid up capital of Rs 8.67 crore as on September 30, 2005.
Jayanta Mallick
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