Ramkrishna Forgings spurted 11.58% to Rs 788 at 11:33 IST on BSE after the company reported net profit of Rs 23.53 crore in Q2 September 2017 compared with net loss of Rs 4.99 crore in Q2 September 2016.
The result was announced on Saturday, 28 October 2017.Meanwhile, the S&P BSE Sensex was up 135.02 points or 0.41% at 33,292.24. The S&P BSE Small-Cap index advanced 193.28 points or 1.12% at 17,496.94, outperforming the Sensex.
High volumes were witnessed on the counter. On the BSE, 29,835 shares were traded on the counter so far as against the average daily volumes of 6,229 shares in the past one quarter. The stock had hit a high of Rs 824.95 so far during the day, which is also a record high. The stock had hit a low of Rs 744.10 so far during the day. The stock had hit a 52-week low of Rs 256.25 on 21 November 2016.
The small-cap company has equity capital of Rs 32.59 crore. Face value per share is Rs 10.
The stock has surged 17.75% in four sessions to its ruling price, from a close of Rs 669.20 on 24 October 2017.
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Ramkrishna Forgings' net sales spurted 114.1% to Rs 333.26 crore in Q2 September 2017 over Q2 September 2016.
The company said that Q2 performance was good due to controlled processing charges and finance & employee cost.
Volatility in alloy steel pricing created issues of pass through and affected Q2 results adversely. Pass through is getting delayed because of frequent price increases, it added.
Ramkrishna Forgings is a supplier of forged and rolled components for various sectors.
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