Bhushan Steel rose 0.94% to Rs 42.80 at 11:05 IST on BSE after the company announced capacity addition at a plant situated at Orissa.
The announcement was made after market hours yesterday, 4 July 2016.Meanwhile, the S&P BSE Sensex was down 77.33 points or 0.28% at 27,202.32
On BSE, so far 81,000 shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter. The stock hit a high of Rs 43.45 and a low of Rs 42.30 so far during the day. The stock had hit a 52-week high of Rs 75.50 on 10 July 2015. The stock had hit a 52-week low of Rs 32.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, advancing 20.11% compared with Sensex's 1.62% rise. The scrip also outperformed the market in past one quarter, rising 13.52% as against Sensex's 9.63% gain.
The small-cap company has equity capital of Rs 45.30 crore. Face value per share is Rs 2.
Bhushan Steel said that the company is taking shut down of its hot strip mill situated at district Dhenkanal, Orissa, for about 20 days for capacity addition from 4 million tonne per annum (mtpa) to 5 mtpa.
Bhushan Steel reported net loss of Rs 670.47 crore in Q4 March 2016, higher than net loss of Rs 360.77 crore in Q4 March 2015. Net sales rose 29.49% to Rs 3031.30 crore in Q4 March 2016 over Q4 March 2015.
Bhushan Steel is a manufacturer of cold rolled steel coils, hardened and tempered strips, galvanised and electrical steel strips.
Powered by Capital Market - Live News
