Balasore Alloys jumped 13.02% to Rs 11.89 at 9:46 IST on BSE after net profit galloped 793.02% to Rs 11.52 crore on 15.34% growth in total income from operations to Rs 188.62 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced after market hours on Thursday, 30 January 2014.
Meanwhile, the S&P BSE Sensex was up 24.24 points or 0.12% at 20,522.49.
On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 33,963 shares in the past one quarter.
The stock hit a high of Rs 12.46 and a low of Rs 11.29 so far during the day. The stock had hit a 52-week high of Rs 16 on 14 February 2013. The stock had hit a 52-week low of Rs 7.55 on 6 August 2013.
The stock had underperformed the market over the past one month till 30 January 2014, sliding 11% compared with the Sensex's 3.05% fall. The scrip had also underperformed the market in past one quarter, declining 10.92% as against Sensex's 2.55% fall.
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The small-cap company has equity capital of Rs 32.15 crore. Face value per share is Rs 5.
Balasore Alloys, formerly Ispat Alloys, is part of the Ispat Group of companies promoted by the Mittals. The company in engaged in manufacturing of ferro alloys. With multiple furnaces of different capacities, the company produces different types of ferro alloys.
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