InvestorQ : What is the reason for Mukand Steel rallying so sharply in the last couple of months?
ishika Banerjee made post

What is the reason for Mukand Steel rallying so sharply in the last couple of months?

Answer
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4 weeks ago


Mukand Ltd, one of India’s oldest steel companies owned by Viren Shah, was in upper circuit for the 14th trading day in succession. The stock has already rallied 87% in September after its board approved divestment of 51% in Mukand Sumi Special Steel for Rs.1213 crore.

Mukand had reported a net loss of Rs.148 crore for the Jun-20 quarter, which was much wider than the net loss of Rs.43 crore in Jun-19 quarter.