Rajratan Global Wire hit an upper circuit of 5% at Rs 2726.15 after the company said that its board will meet on Friday, 28 January 2022, to consider a proposal for sub-division of equity shares of the company.
The announcement was made during market hours today.
Rajratan Global Wire is a tyre ancillary, manufacturing bead wire, a critical component used in the manufacture of tyres.
The company's consolidated net profit surged to Rs 32.60 crore in the quarter ended September 2021 as against Rs 13.54 crore during the previous quarter ended September 2020. Sales rose 73.48% YoY to Rs 241.17 crore in Q2 FY22.
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