{"id":106317,"date":"2023-08-07T14:48:51","date_gmt":"2023-08-07T09:18:51","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106317"},"modified":"2023-08-07T14:48:53","modified_gmt":"2023-08-07T09:18:53","slug":"miniratna-psu-stock-falls-5-after-company-stops-pellet-production-due-to-raw-material-shortage","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/miniratna-psu-stock-falls-5-after-company-stops-pellet-production-due-to-raw-material-shortage\/","title":{"rendered":"Miniratna PSU stock falls 5% after company stops pellet production due to raw material shortage"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1916055597\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of a Miniratna company pared 5.17 percent on Monday to reach an intraday low of \u20b9 213.85 apiece on the National Stock Exchange (NSE) after the company said that it will be stopping production at its Mangalore plant.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2158942429\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/KIOCL\/standalone?standalone=true\" target=\"_blank\" rel=\"noreferrer noopener\">KIOCL<\/a><\/strong> informed the exchanges that the company has stopped pellet production at its manufacturing unit in Mangalore with effect from August 05, 2023 due to the non availability of iron ore fines. It said that it will provide information once it resumes production.\u00a0<\/p><p>The Bengaluru-headquartered company resumed its operations at its Mangalore plant on November 24, 2022, after the government withdrew export duty on iron ore pellets and specified steel products including pig iron from November 19, 2022. It had temporary;y closed down due to lack of demand with effect from August 23, 2022.&nbsp;<\/p><p>KIOCL is the flagship company under the Ministry of Steel, Government of India, with Miniratna status. It is an export-oriented unit with expertise in iron ore mining, filtration technology, and the production of high-quality pellets.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2799456732\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>With a market capitalization of \u20b9 13,705 crores, KIOCL is a small-cap company. It has a negative return on equity of 4.71 percent but an ideal debt-to-equity ratio of 0.27. Its shares were trading at a price-to-earnings ratio (P\/E) of 922.77, which is significantly higher than the industry P\/E of 14.30, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><p>The company is promoted by the government, which holds a 99.03 percent stake in it, followed by retail investors with 0.84 percent and domestic institutional investors with 0.13 percent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3691256158\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of a Miniratna company pared 5.17 percent on Monday to reach an intraday low of \u20b9 213.85 apiece on the National Stock Exchange (NSE) after the company said that it will be stopping production at its Mangalore plant.&nbsp; KIOCL informed the exchanges that the company has stopped pellet production at its manufacturing unit in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[10631,10630,5236,10422,3601,5159,948,936,10633],"class_list":["post-106317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-kiocl-latest-news","tag-kiocl-share-price","tag-miniratna-stock","tag-miniratna-stock-2023","tag-psu-stock","tag-psu-stock-to-watch","tag-stock-market","tag-stock-market-news","tag-why-is-kiocl-share-falling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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