Tata Sponge Iron jumped 10.68% to Rs 709.30 at 9:39 IST on BSE after net profit surged 145.45% to Rs 44.28 crore on 23.52% increase in total income from operations to Rs 203.12 crore in Q1 June 2014 over Q1 June 2013.
The company announced the result after trading hours on Monday, 14 July 2014.
Meanwhile, the BSE Sensex was up 184.87 points, or 0.74%, to 25,191.85.
On BSE, so far 1.48 lakh shares were traded in the counter, compared with an average volume of 91,765 shares in the past one quarter.
The stock hit a high of Rs 716.80 and a low of Rs 683 so far during the day. The stock hit a 52-week high of Rs 721.80 on 1 July 2014. The stock hit a 52-week low of Rs 217.90 on 19 September 2013.
The stock had outperformed the market over the past one month till 14 July 2014, rising 8.12% compared with 0.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.19% as against Sensex's 10.51% rise.
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The small-cap company has an equity capital of Rs 15.40 crore. Face value per share is Rs 10.
Tata Sponge Iron produces high-grade sponge iron.
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