Adhunik Metaliks spikes 12.5% on turnaround in Q2

Shares of Adhunik Metaliks , the flagship company of the Adhunik group, gained as much as 12.5 percent to hit an intraday high of Rs 34.25 on Thursday after returning to profits in the second quarter.

The steel making company has reported a consolidated net profit of Rs 36 crore in the July-September quarter of current financial year as against loss of Rs 5.5 crore in the corresponding quarter of last fiscal. Consolidated net sales increased 33 percent year-on-year to Rs 596.5 crore during the quarter.

At 10:07 hours IST, the stock rose 9.5 percent to Rs 33.35 amid large volumes on the Bombay Stock Exchange.

Market capitalisation of the company currently stands at Rs 411.87 crore.

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