RHI Magnesita stock shot up by more than 7% today

21 Nov 2022 , 03:22 PM

In intraday trade on Monday, shares of RHI Magnesita India rose 14% to Rs 735 per share after the company announced the purchase of Dalmia Bharat Refractories Limited’s (DBRL) Indian refractory division for Rs 1,708 crore.

The stock of this refractories company recently traded around its October 21, 2022, 52-week high of Rs. 738.10. The S&P BSE Sensex, in contrast, was down 1% at 61,085 at 2:36 PM. RHI Magnesita’s stock price increased by 110 % in the last year, compared to the benchmark index’s 2.5 %.

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