Meanwhile, BSE Sensex was down 75.43 points or 0.37% to 20,390.19.

On BSE, 88,921 shares changed hands in the counter. The stock had an average daily volume of 3.43 lakh shares on BSE in past one quarter.

The stock opened at the 5% upper circuit and it remained locked at the circuit level so far in the day. The stock today hit all-time high. It had touched a 52 week low of Rs 10.15 on 9 March 2007.

The small-cap scrip outperformed the market over the past one month till 2 January 2008 rising 89.16% compared to the Sensex’s rise of 4.79%. It also outperformed the market over the past one quarter, surging 220.36% to Sensex’s gain of 15.12%.

The company’s current equity share capital is Rs 14.23 crore. Face value per share is Rs 10.

At the current price of Rs 176.75 the PE multiple works out to 19.21 based on Q2 September 2007 annualised EPS of Rs 9.2.

The company’s net profit rose 162.3% to Rs 4.38 crore on 1.1% decline in sales to Rs 117.13 crore in Q2 September 2007 over Q2 September 2006.

The price of the warrants issue is set at Rs 126. The board also aproved to increase the authorised capital of the company from Rs 25 crore to Rs 50 crore. The board also approved issue of securities under qualified institutional placement/global depository receipts/ American depository receipts up to Rs 200 crore.

Steelexchangeindia.com is India’s first online steel e-commerce portal established in 1999 and is dedicated to Indian steel industry.