Earlier, the company posted a multifold rise in net profit to Rs 6.94 crore in the September quarter, helped by reduced expenses.
Shares of Rathi Steel & Power Ltd are in focus today as the company has informed exchanges that the Commission of Air Quality Management in the National Capital Region and Adjoining Areas has permitted the company to resume commercial operations of its steel melting shop at Ghaziabad. Earlier, the commercial operations were stopped considering the air quality in the national capital region (NCR). The company’s steel plant in Uttar Pradesh has an installed capacity of 2,00,000 tonne per annum (TPA), comprising a TMT bar mill and a wire-rod mill.
Share Price Today
The company’s stock started the trading session at Rs 27 against the previous close of Rs 27.10 on the BSE. The stock later surged to hit the high of Rs 27.09. Last seen, the stock was trading at Rs 26.90 with a drop of 0.74 per cent. The market cap of the company stood at Rs 232.32 crore. The 52-week high of the stock is Rs 51.95 and the 52-week low is Rs 21.65.
Share Price History
According to BSE Analytics, the company’s stock has fallen 3 per cent in the past week. In the past month, it has gained over 8 per cent. However, the stock has fallen over 15 per cent in the past six months and over 42 percent in the past year.
However, over the past five years, the company’s stock has gained 1180 per cent.
The company primarily produces steel products used in the construction sector, such as stainless steel billets, wire rods, bright bars, MS TMT bars, and wires. The company manufactures its products in accordance with industry standards and modern construction needs.
Earlier, the company posted a multifold rise in net profit to Rs 6.94 crore in the September quarter, helped by reduced expenses.
It had reported a Rs 1.79 crore net profit in the July-September period of 2023-24, the company said in an exchange filing.
However, the company’s total income fell to Rs 121.84 crore from Rs 148.94 crore in the year-ago quarter. Total expenses reduced to Rs 119.61 crore from Rs 147.15 crore in the second quarter last financial year.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
