Shares of Indian Metals & Ferro Alloys soared over 18 per cent after the company reported an over 12-fold rise in net profit for the September quarter.
The stock skyrocketed 18 per cent to end at Rs 371.85 on BSE. During the day, it jumped 19.99 per cent to Rs 378.05.
On NSE, shares of the company zoomed 17.86 per cent to end at Rs 369.40.
The company's stock price has seen a steep jump of 200 per cent in one quarter.
Its net profit for the quarter ended September 30 stood at Rs 42.31 crore, up 12.22 times from Rs 3.46 crore a year ago, as per the company's BSE filing.
Total income from operations also rose to Rs 387.58 crore from Rs 340.12 crore in the same period a year ago.
Higher output combined with an increase in ferro chrome prices has boosted the company's performance for the second quarter of FY17 after it had reported losses for two successive quarters, it said.
There has been a broad rally across commodities and ferro chrome too has witnessed a turnaround after prices had hit multi-year lows.
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