Sarda Energy surges 6%, hits all-time high on healthy earnings outlook

For the October-December quarter (Q3FY22), Sarda Energy reported 46 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 169 crore

Shares of Sarda Energy & Minerals hit a record high of Rs 1,024.95, surging 6 per cent on the BSE in Friday’s intra-day trade on expectation of healthy earnings going ahead. The stock of iron & steel/intermediates products-maker surpassed its previous high of Rs 1,000 touched on March 3, 2022.

Sarda Energy on Thursday informed that the rating agency India Ratings has assigned fresh ratings ‘IND A-’/Stable for a long term issuer rating of the Company's Subsidiary - Madhya Bharat Power Corporation Ltd (MBPCL).

MBPCL has signed a 35-year power purchase agreement (PPA) for its 113megawatt (MW) hydro-electric