Mukand hits upper circuit for 14th straight day, rallies 87% in September

The stock hit a 52-week high of Rs 51.50, rallied 87% thus far in September, against 0.45% gain in the S&P BSE Sensex.

Shares of Mukand were locked in upper circuit for the 14th straight trading day, up 5 per cent at its 52-week high of Rs 51.50 on the BSE on Monday. The company is engaged in iron & steel/intermediates products.

Thus far in the month of September, the stock has rallied 87 per cent after its board, on August 31, approved the proposal for divestment of upto 51 per cent equity stake/investment held in Mukand Sumi Special Steel (MSSL) to promoter group entities for total consideration of Rs 1,212.95 crore. In comparison, the S&P BSE Sensex gained 0.45 per cent