RCF up on Turnaround story

Dalal Street Spikes

 The counter moved up on good buying support after the company recorded a turnaround in the second quarter of this fiscal.

 The stock had moved in the past few months on hope of disinvestment but lost ground in the past few weeks over concerns that disinvestment may be delayed.

 RCF has reported a net profit of Rs 67.48 crore compared with a net loss of Rs 121.67 crore in the second quarter ended September 30, 2002.

 The current second-quarter profitability has been partly boosted by an extraordinary income of Rs 25.10 crore, relating to income-tax refund from earlier years.