Indian Metals & Ferro Alloys was locked in an upper circuit of 5% at Rs 718.40 after the board on Friday, 25 November 2021, decided to consider the proposal for issue of bonus shares.
"The record date for the bonus issue will be communicated in due course," Indian Metals & Ferro Alloys stated in its exchange filing.
Indian Metals & Ferro Alloys' consolidated net profit soared 228.6% to Rs 143.71 crore on a 49.3% surge in net sales to Rs 653.16 crore in Q2 FY22 over Q2 FY21.
Indian Metals & Ferro Alloys primarily produces ferro alloys, including charge chrome (high carbon ferro chrome), and has an installed furnace capacity of 190 MVA (284,000 MTPA) in its two plant sites at Therubali and Choudwar, in Odisha. The company's operations are supported by a 200-MW captive thermal power plant at Choudwar, captive chromite mines and a 4.5-MW solar power plant.
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