Electrosteel Steels rose 1.61% to Rs 3.79 at 11:17 IST on BSE after the company said its board of directors will meet on 8 December 2015, inter-alia, to note the strategic debt restructuring package approved by the joint lenders forum of the company.
The announcement was made after market hours yesterday, 3 December 2015.
Meanwhile, the S&P BSE Sensex was down 204.55 points or 0.79% at 25,682.07.
On BSE, so far 4.91 lakh shares were traded in the counter as against average daily volume of 2.83 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 3.21% at the day's high of Rs 3.85 so far during the day. The stock hit a low of Rs 3.73 so far during the day, matching its yesterday's closing. The stock had hit a 52-week high of Rs 5.48 on 16 December 2014. The stock had hit a record low of Rs 2.05 on 8 September 2015.
The stock had outperformed the market over the past one month till 3 December 2015, surging 25.17% compared with Sensex's 2.65% fall. The scrip had also outperformed the market in past one quarter, jumping 56.07% as against Sensex's 0.47% rise.
The small-cap company has equity capital of Rs 2409.24 crore. Face value per share is Rs 10.
Electrosteel Steels reported net loss of Rs 201.49 crore in Q2 September 2015, higher than net loss of Rs 98.71 crore in Q2 September 2014. Net sales rose 32.2% to Rs 571.56 crore in Q2 September 2015 over Q2 September 2014.
Electrosteel Steels is an associate company of Electrosteel Group.
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