Kalyani Steels spurts 14.62% in two days on stellar Q2 results

Kalyani Steels surged 7.92% to Rs 156 at 12:13 IST on BSE, with the stock extending Monday's 6.21% rally triggered by declaring strong Q2 result.

Meanwhile, the BSE Sensex was up 54.72 points, or 0.21%, to 26,484.57

On BSE, so far 5.87 lakh shares were traded in the counter as against an average daily volume of 1.58 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 159.25 in intraday trade today, 21 October 2014. The stock hit a low of Rs 145.05 so far during the day. The stock had hit a 52-week low of Rs 45.70 on 25 October 2013.

The stock had outperformed the market over the past one month till 20 October 2014, rising 1.33% compared with 2.44% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 39.06% as against Sensex's 3.07% rise.

The company's equity capital is Rs 21.83 crore. Face value per share is Rs 5.

Shares of Kalyani Steels gained 14.62% in two trading days from its close of Rs 136.10 on 17 October 2014 triggered by announcing strong Q2 result during market hours on Monday, 20 October 2014.

Kalyani Steels' net profit jumped 92.4% to Rs 22.78 crore on 27.6% rise in net sales to Rs 314.74 crore in Q2 September 2014 over Q2 September 2013.

Kalyani Steels is engaged in manufacturing and marketing iron and steel products.

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