Shyam Metalics and Energy Reports 51% Rise In Stainless Steel Sales Volumes In Nov

Shyam Metalics and Energy Ltd. reported a 51% year-on-year increase in stainless steel sales volumes at 6,064 million tonnes in the month of November. Whereas the realisations have increased by 6% on a year-on-year basis, according to a consolidated sales update released on Monday.

While, there has been a decrease of 7% in sales volumes month-on-month, realisations have decreased by 8% on a MoM basis.

The company's aluminium foil sales volumes rose 30% at 2,018 MT on year-on-year basis, whereas realisations have increased by 10% on a year-on-year basis. There has been an increase of 30% in sales volumes, whereas the realisations have increased by 3% on a month-on-month basis.

The company has reported a 43% increase on year-on-year basis in speciality alloys sales volumes at 16,243 MT, whereas the realisations have decreased by 3% on year-on-year basis. There has been a decrease of 8% in sales volumes, whereas the realisations have decreased by 6% on a month-on-month basis.

The carbon steel segment has seen an increase of 15% in sales volumes, whereas the realisations have decreased by 6% on a year-on-year basis. On month-on-month basis, the company's carbon steel segment has seen a decrease of 0.06% in sales volumes, whereas the realisations have decreased by 2%.

The company's sponge iron segment has seen a decrease of 6% in sales volumes, whereas the realisations have decreased by 6% on a year-on-year basis. On month-on-month basis, there has been a decrease of 18% in sales volumes, whereas the realisations have decreased by 5%.

Shares of Shyam Metalics and Energy were trading 0.95% lower at Rs 844.70 apiece, compared to a 0.12% decline at the NSE Nifty 50 at 1:16 p.m.

The stock has risen 64.42% in the last 12 months and 34.87% year-to-date. Total traded volume so far in the day stood at 0.10 times its 30-day average. The relative strength index was at 48.91.

Five out of the six analysts tracking the company have a 'buy' rating on the stock, and one suggests a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 15.6%.