Indian Metals & Ferro Alloys gained 4.01% to Rs 588 at 12:48 IST on BSE, with the stock extending Monday's gains triggered by the company reporting strong Q1 June 2017 results.
Meanwhile, the S&P BSE Sensex was down 276.31 points or 0.86% at 31,798.47. The S&P BSE Small-Cap index declined 8.86 points or 0.06% at 15,901.22.
On the BSE, 1.88 lakh shares were traded on the counter so far as against the average daily volumes of 21,986 shares in the past one quarter. The stock had hit a high of Rs 593.60 and a low of Rs 579.95 so far during the day. The stock had hit a 52-week high of Rs 823 on 21 March 2017 and a 52-week low of Rs 134 on 27 July 2016.
The stock had outperformed the market over the past one month till 17 July 2017, advancing 32.35% compared with the Sensex's 3.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 7.46% as against the Sensex's 9.05% rise. The scrip had outperformed the market over the past one year, surging 304.83% as against the Sensex's 15.23% rise.
The small-cap company has equity capital of Rs 26.98 crore. Face value per share is Rs 10.
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Shares of Indian Metals & Ferro Alloys (IMFA) have risen 9.2% in two trading sessions to its ruling market price, from its closing of Rs 538.45 on 14 July 2017 after the company announced strong Q1 June 2017 results during market hours yesterday, 17 July 2017. The stock surged by the maximum permissible level of 5% to settle at Rs 565.35 yesterday, 17 July 2017.
IMFA reported net profit of Rs 99.92 crore in Q1 June 2017, compared with net loss of Rs 30.35 crore in Q1 June 2016. Net sales rose 68.7% to Rs 422.65 crore in Q1 June 2017 over Q1 June 2016.
Indian Metals & Ferro Alloys is a producer of ferro chrome and ferro alloys. The company operates through three segments: ferro alloys, power and mining.
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