Ispat strengthens on good Q1 performance

DALAL STREET SPIKES

Ispat Industries surged 4.41 per cent to Rs 27.20 on the back of its first quarter results. The company witnessed a 243.2 per cent increase in net profit to Rs 28.73 crore. The scrip opened at Rs 25.75 and touched a high of Rs 27.45 and a low of Rs 25.35 in intra-day trading. A total of 20,466,466 shares changed hands on the BSE.

The stock has risen 19.20 per cent since the last one month. Ispat Industries is involved in the production of galvanized/plain/corrugated sheets, strips, coils and sponge iron.