Om Metals at a new high

Om Metals Infraprojects hit a new 52-week high at Rs.60.10 and remains firmly in the green, up over 12%.

The company announced yesterday that on 4th July it sold its cineplex division, Om Cineplex Commercial Complex, for Rs 18 crore to Princess Infra and Development.

The company is into diverse business activities like hydro mechanical equipments, turn key solutions for steel fabrication, hydro power developments, real estate, entertainment centers and hotels.

The company had a poor show for Q4FY17 with net profit falling 81% (YoY) to Rs.1.31 crore on a 5.5% drop in net sales at Rs.66 crore.