Small Cap Co Approves Preferential Issue, Allotment Of Shares; Hits Upper Circuit

Small cap company Rathi Steel & Power Ltd held its meeting of Board of Directors on January 18, 2024 where it considered, approved issue and allotment of upto 3,55,70,522 (Three Crores Fifty Five Lakhs Seventy Thousand Five Hundred and Twenty Two Only) Equity Shares of face value of Rs 10/- each to persons belonging to Non-Promoter Category, on preferential basis, at Rs 32.25 for cash, subject to shareholders' approval."

Last trading price of Rathi Steel shares on BSE is Rs 41.07 apiece with intraday gain of 1.99%. Rathi Steel shares also traded its fresh 52-week high today. The scrip also hit upper circuit and 52-week high on January 18, 2024.

Rathi Steel Stock Performance & Return: The 52-week high price of Rathi Steel shares on BSE is Rs 41.07 apiece and 52-week low price is Rs 3.15 apiece, respectively. Rathi Steel has a market capitalisation of Rs 128.58 crore. Rathi Steel shares soared 36% in last 1-month, gained 51% in last 3-months, and jumped 505% in last 6-months.

Rathi Steel Financials: Rathi Steel & Power for the quarter ended September 30, 2023 declared its net sales at Rs 126.70 crore, down 35.09% from Rs 195.19 crore in September 2022. The company reported its net profit at Rs 0.82 crore for the quarter under consideration, down 55.43% from Rs 1.85 crore in September 2022. Its EBITDA stood at Rs 6.44 crore in September 2023, down 4.45% as compared to Rs 6.74 crore in September 2022. The company's EPS declined to Rs 0.26 in September 2023 from Rs 0.59 in September 2022.

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