MAGMA FINCORP Plunges by 7%; BSE 500 Index Down 0.4%
July 10, 2019 03:10 PM

MAGMA FINCORP share price has plunged 7% and is presently trading at Rs 120.

Meanwhile, the BSE 500 Index is at 15,013 (down 0.4%).

Among the top losers in the BSE 500 Index today are MAGMA FINCORP (down 7.1%) and REDINGTON (down 6.9%).

EDELWEISS FINANCIAL (up 5.9%) and RELIANCE COMMUNICATIONS (up 4.8%) are among the top gainers today.

Over the last one year, MAGMA FINCORP has moved down from Rs 162 to Rs 120, registering a loss of Rs 43 (down 26.4%)..

The BSE 500 has moved up from 14,720 to 15,013, registering a gain of 293 points (up 2.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI POWER (up 282.8%), VINATI ORGANICS (up 110.8%) and INFO EDGE (up 78.2%).

What About the Benchmark Indices?

The BSE Sensex is at 38,855 (down 0.3%). The top gainers among the BSE Sensex stocks today are YES BANK (up 1.9%). The most traded stocks in the BSE Sensex are YES BANK and ICICI BANK.

In the meantime, NSE Nifty is at 11,594 (down 0.5%). SUN PHARMA (up 1.8%) and YES BANK (up 1.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,935 to 38,855, registering a gain of 2,920 points (up 7.5%).

MAGMA FINCORP Financial Update...

MAGMA FINCORP net profit stood at Rs 767 million for the quarter ended December 2018, compared to a profit of Rs 650 million a year ago. Net Sales rose 7.6% to Rs 6.2 billion during the period as against Rs 5.8 billion in October-December 2017.

For the year ended March 2018, MAGMA FINCORP reported 1710.1% increase in net profit to Rs 2.3 billion compared to net profit of Rs 127.0 million during FY17.

Revenue of the company grew 4.7% to Rs 22 billion during FY18.

The current Price to earnings ratio of MAGMA FINCORP, based on rolling 12 month earnings, stands at 8.9x.