Usha Martin rose 1.03% to Rs 34.45 at 11:15 IST on BSE after the company said that the iron ore benefication and pellet plant at Jamshedpur has been commissioned and the same is under trial run.
The announcement was made during trading hours today, 15 January 2014.
Meanwhile, the BSE Sensex was up 202.62 points, or 0.96%, to 21,234.53
On BSE, so far 1.14 lakh shares were traded in the counter as against an average daily volume of 1.39 lakh shares in the past one quarter.
The stock hit a high of Rs 35.20 and a low of Rs 33.20 so far during the day. The stock had hit a 52-week high of Rs 37.40 on 9 January 2014. The stock had hit a 52-week low of Rs 20.30 on 26 March 2013.
The stock had outperformed the market over the past one month till 14 January 2014, advancing 28.2% compared with the Sensex's 1.53% rise. The scrip also outperformed the market in past one quarter, surging 42.08% as against Sensex's 2.06% rise.
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The small-cap company has an equity capital of Rs 30.47 crore. Face value per share is Re 1.
On a consolidated basis, Usha Martin's net profit dropped 96.2% to Rs 0.86 crore on 1.3% fall in net sales to Rs 927.17 crore in Q2 September 2013 over Q2 September 2012.
Usha Martin is an integrated specialty steel company and one of the largest wire rope manufacturers globally.
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