Mahindra Ugine Steel gains after strong Q1 earnings

Mahindra Ugine Steel Company rose 2.93% to Rs 423.40 at 13:00 IST on BSE after net profit jumped 136.06% to Rs 8.64 crore on 2.39% decline in total income from operations to Rs 177.92 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 5 August 2014.

Meanwhile, the S&P BSE Sensex was down 126.53 points or 0.49% at 25,596.63.

On BSE, so far 1.86 lakh shares were traded in the counter as against average daily volume of 14,000 shares in the past two weeks.

The stock hit a high of Rs 433.50 and a low of Rs 402 so far during the day.

 

Mahindra Ugine Steel Company manufactures tool, alloy and special steels. Its products are used mainly by the automobile and general engineering industries.

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