Tata Metaliks surged 7.24% to Rs 121.40 at 9:51 IST on BSE, with the stock extending Monday's rally triggered by the company reporting turnaround results in Q1.
Meanwhile, the S&P BSE Sensex was up 100.35 points or 0.39% at 25,815.52.
On BSE, so far 5.55 lakh shares were traded in the counter as against average daily volume of 5.47 lakh shares in the past two weeks.
The stock hit a high of Rs 123 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 116.10 so far during the day.
Shares of Tata Metaliks have rallied 17.92% in two trading sessions from Rs 102.95 on 18 July 2014, after the company during market hours on Monday, 21 July 2014, reported turnaround results in Q1 June 2014. The stock had surged by the maximum permissible level of 10% to settle at Rs 113.20 on Monday, 21 July 2014.
Shares of Tata Metaliks were on a roll with the stock spurting a whopping 75.43% in seven trading sessions from a recent low of Rs 69.20 on 11 July 2014.
On a consolidated basis, Tata Metaliks reported net profit of Rs 34.32 crore in Q1 June 2014 as compared to net loss of Rs 13.21 crore in Q1 June 2013. Net sales rose 4.6% to Rs 356.50 crore in Q1 June 2014 over Q1 June 2013.
Tata Metaliks is a leading producer of foundry grade pig iron in the country.
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