Usha Martin zooms 54% in 4 weeks; stock trades at over 14-year high

The stock traded at its highest level since January 2008; the stock had hit a record high of Rs 154 on January 4, 2008.

Shares of Usha Martin hit an over 14-year high of Rs 134.40, on soaring 8 per cent on the BSE in Wednesday’s intra-day trade extending it’s a month long rally. The stock of the wire rope manufacture has zoomed 54 per cent in the past one month as compared to a 4 per cent rise on the S&P BSE Sensex. The stock traded at its highest level since January 2008, when it hit a record high of Rs 154.

According to disclosure made by Usha Martin, the company’s promoter Peterhouse Investments sold 1.6 million equity shares or 0.52 per