Prakash Industries hits 52-week high on clocking highest-ever sales volume

Shares of Prakash Industries snapped their two-day shedding run and jumped over 9 per cent to scale a recent 52-week high of Rs 88.80 on the BSE in intra-day commerce on Thursday after the agency stated it has recorded the highest-ever sales volume within the monetary year 2021-22 (FY21).

Around 11.20 am, the scrip was buying and selling 6.59 per cent larger at 86.50 on the BSE as towards a 0.84 per cent achieve within the BSE barometer Sensex. In the previous month, the stock has outperformed Sensex with a surge of practically 47 per cent as towards the index’s 1.5 per cent decline.

The smallcap agency which is engaged within the mining, metal and energy trade in an trade submitting, on Wednesday, knowledgeable that the company achieved the highest-ever sales of round 9,54,760 tonnes of metal, a progress of three.13 per cent over FY 2019-20 regardless of disruptions because of the Covid-19 pandemic.

For the March quarter of FY21, the company clocked the best ever sales of round 2,72,142 tonnes of metal, recording a progress of 31.16 per cent year-on-year (YoY) and eight.85 per cent quarter-on-quarter (QoQ), it stated.

The company additional added that in FY21, the DRI Production has been highest ever at 9,05,616 tonnes, recording a progress of 10.73% YoY.

In the third quarter of FY21, the company had posted a income progress of 20.63 per cent YoY at Rs 891 crore as towards Rs 738.62 crore posted in the identical quarter earlier year. The revenue had risen 4.57 per cent YoY to Rs 31.33 crore from Rs 29.96 crore posted within the December quarter of FY20.

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