Ashapura Minechem hits upper circuit for 3rd day; stock zooms 100% in 7 wks

For the April-June quarter (Q1FY21), the company had reported standalone profit before tax (PBT) of Rs 9.23 crore against Rs 1.15 crore in the year-ago quarter.

Shares of Ashapura Minechem (AML) were frozen at the upper circuit limit for the third straight day on the BSE on Thursday. The stock was up 5 per cent at Rs 82.75, also its 52-week high, in an otherwise weak market. In the past seven weeks, the stock of the mining company has seen its share price more than double after it reported strong operational performance for the June quarter of the current fiscal (Q1FY21).

Since July 31, shares of AML have rallied 128 per cent from the level of Rs 36.25, as compared to a 3.4 per cent rise in