Ramsarup Inds up 8% on capex plans

DALAL STREET SPIKES

The stock gained 7.7 per cent to Rs 105.85 on Tuesday, after touching a high of Rs 108.1. Nearly 1.6 lakh shares exchanged hands on the BSE.

The stock has gained five per cent over the past week and by 23 per cent over the past month. The recent upswing in the stock is attributed to the company's capex plans.

The company has announced a capital expenditure plan of over Rs 774 crore, which is to be implemented by 2010.

It registered a net profit growth of 55.2 per cent to Rs 10.21 crore for Q1 FY07, from Rs 6.58 crore in corresponding previous quarter. Net sales rose 50.3 per cent to Rs 312.22 crore from Rs 207.78 crore.