Rohit Ferro-Tech hits upper limit

The stock zoomed 20 per cent on plans to hive-off its Jaipur manufacturing unit.

Dec 30, 2014 10:12 IST India Infoline News Service

Rohit Ferro-Tech hit the 20 per cent upper circuit at Rs. 9 this morning on the back of strong volume after the company announced its plans to sell its Jaipur manufacturing plant.

The company has been running losses for quite some time now. For the quarter ended September 2014, the company reported a net loss of Rs. 120 crore while total revenue stood at Rs. 524 crore.

The stock continues to trade on a firm note and is now up 16.7 per cent at Rs. 8.75. The counter has seen 14-fold jump in volume with trades of around 412,000 shares as against the two-week daily average volume of around 29,000 shares on the BSE.

Meanwhile, the Sensex has slipped 20 points to 27,376.

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