IFGL Refractories gained 6.66% to Rs 142.50 at 15:13 IST on BSE, after the company's US Subsidiary completed initial expansion of its manufacturing facilities in Sharonville and Fairfield Ohio in December 2014.
Meanwhile, the BSE Sensex was down 10.56 points, or 0.04%, to 28,493.90
On BSE, so far 26,111 shares were traded in the counter as against an average daily volume of 11,038 shares in the past one quarter.
The stock hit a high of Rs 146.40 and a low of Rs 133 so far during the day. The stock had hit a 52-week low of Rs 57 on 7 April 2014. The stock had hit a record high of Rs 218.25 on 9 September 2014.
The small-cap stock had outperformed the market over the past one month till 6 April 2015, rising 4.38% compared with 3.21% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.54% as against Sensex's 5.62% rise.
The company has an equity capital of Rs 34.61 crore. Face value per share is Rs 10.
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IFGL Refractories during market hours today, 7 April 2015 said that company's US Subsidiary, El Ceramics LLC has completed initial expansion of its manufacturing facilities in Sharonville and Fairfield Ohio in December 2014. This has resulted in a capacity increase to the main line Sharonville ISO Plant from previous 85,000 pieces per annum to a new current level of 126,000 pieces per annum. Also, in Fairfield the installation of a completely new plant for the manufacture of the Clay graphite foundry stoppers with a capacity of 10,000 pieces per annum. Total capital expenditure for the project has been partly financed through internal accruals and partly by loan from a bank, IFGL Refractories said.
IFGL Refractories' consolidated net profit fell 13% to Rs 12.40 crore on 1.5% fall in net sales to Rs 191.74 crore in Q3 December 2014 over Q3 December 2013.
IFGL Refractories manufactures specialized refractories, having facilities in Brazil, China, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider.
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