MAGMA FINCORP Plunges by 6%; BSE 500 Index Down 0.2%

September 13, 2019 10:33 AM

MAGMA FINCORP share price has plunged 6% and is presently trading at Rs 65.

Meanwhile, the BSE 500 Index is at 14,293 (down 0.2%).

Among the top losers in the BSE 500 Index today are MAGMA FINCORP (down 6.4%) and YES BANK (down 5.3%).

OBEROI REALTY (up 6.7%) and RELIANCE COMMUNICATIONS (up 4.9%) are among the top gainers today.

Over the last one year, MAGMA FINCORP has moved down from Rs 136 to Rs 65, registering a loss of Rs 71 (down 52.3%)..

The BSE 500 has moved down from 15,326 to 14,293, loss of 1,033 points (down 6.7%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI POWER (up 109.8%), INTERGLOBE AVIATION (INDIGO) (up 95.2%) and VINATI ORGANICS (up 73.9%).

What About the Benchmark Indices?

The BSE Sensex is at 37,244 (down 0.1%). The top gainers among the BSE Sensex stocks today are POWER GRID (up 1.4%). The most traded stocks in the BSE Sensex are ONGC and ICICI BANK.

In the meantime, NSE Nifty is at 11,024 (down 0.2%). TITAN (up 2.4%) and POWER GRID (up 1.0%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,718 to 37,244, registering a loss of 474 points (down 1.6%).

MAGMA FINCORP Financial Update...

MAGMA FINCORP net profit down at Rs 121 million for the quarter ended June 2019, compared to a loss of Rs 767 million a year ago. Net Sales rose 1.0% to Rs 6.3 billion during the period as against Rs 6.2 billion in April-June 2018.

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 5.6x.