Ramkrishna Forgings rose 4.05% to Rs 664 at 14:46 IST on BSE, with the stock extending recent rally triggered by rating agency ICRA revising upwards the long term and short term credit ratings of the company.
Meanwhile, the S&P BSE Sensex was up 221.87 points or 0.8% at 27,951.54
On BSE, so far 65,236 shares were traded in the counter as against average daily volume of 15,624 shares in the past one quarter.
The stock hit a high of Rs 672.25 and a low of Rs 644.75 so far during the day. The stock had hit a record high of Rs 686.75 yesterday, 24 June 2015. The stock had hit a 52-week low of Rs 161 on 27 June 2014.
The stock had outperformed the market over the past one month till 24 June 2015, rising 11.68% compared with 0.81% fall in the Sensex. The scrip also outperformed the market in past one quarter, surging 58.42% as against Sensex's 1.53% fall.
The small-cap company has equity capital of Rs 27.47 crore. Face value per share is Rs 10.
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Shares of Ramkrishna Forgings are on a roll recently, surging 31.29% in seven trading days from a recent low of Rs 505.75 on 16 June 2015. The gains were triggered after Ramkrishna Forgings announced on 17 June 2015 that the rating committee of ICRA after due consideration has revised upwards the long term rating of the company from [ICRA] BBB+ (pronounced ICRA triple B plus) to [ICRA] A- (pronounced ICRA A minus) and the short term rating from [ICRA] A2 (pronounced ICRA A two) to [ICRA] A2+ (pronounced ICRA A two plus). The outlook for the long term rating is stable, ICRA had said.
Ramkrishna Forgings' net profit jumped 636.2% to Rs 34.60 crore on 96.3% growth in net sales to Rs 224.57 crore in Q4 March 2015 over Q4 March 2014.
Ramkrishna Forgings manufactures various forgings items of railways, automobiles and general engineering purposes.
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