Now Reading: Rajputana Stainless surges 10% to record high on strong Q1 results
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Rajputana Stainless surges 10% to record high on strong Q1 results
Rajputana Stainless surges 10% to record high on strong Q1 results
Rajputana Stainless shares surged 10 per cent to an all-time high of Rs 171.80 on the BSE on Thursday, a day after reporting strong June quarter results. Livemint reports that revenue from…
The Story in Brief
Rajputana Stainless shares surged 10 per cent to an all-time high of Rs 171.80 on the BSE on Thursday, a day after reporting strong June quarter results. Livemint reports that revenue from operations rose 32.4 per cent year-on-year to Rs 306.54 crore for Q1 FY27. Profit after tax jumped 80.5 per cent to Rs 20.20 crore from Rs 11.19 crore a year ago. Earnings per share improved to Rs 2.42 from Rs 1.62. The stock, listed in March, is now up 41 per cent from its issue price of Rs 122.
The Indian Opinion
The rush to celebrate every IPO stock's first surge ignores the long view. Rajputana Stainless's profit jump is real, but annualised EPS of under Rs 10 against a share price of Rs 171 implies a P/E above 17, steep for a cyclical steel maker. The real test will come when input costs rise: can it protect margins without slowing revenue growth?
Source: livemint.com
This story was synthesised by AI from the source linked above.
