Everest Kanto Cylinder zooms 44% in 2 days; stock hits over 10-year high

Given the acute shortage of oxygen cylinders amid rising Covid-19 cases in India, the company is expected to see volume growth in its medical equipment segment

Shares of Everest Kanto Cylinder hit an over 10-year high of Rs 110.70, soaring 20 per cent on the BSE in the intra-day trade on Tuesday. The stock of one of India's leading manufacturer of seamless steel gas cylinders was trading higher for the fifth straight day, having rallied 44 per cent alone in the past two trading days, on expectation of strong earnings growth. It was quoting at its highest level since July 2010.

In the past six months, the stock has zoomed nearly 300 per cent. In comparison, the S&P BSE Sensex was up 18 per cent