The BSE Sensex was up 180.94 points, or 0.87%, to 21,045.31.
On BSE, 88.15 lakh shares of the scrip were traded. The stock had an average daily volume of 2.16 crore shares on BSE in past one quarter.
The scrip had touched a high of Rs 73.95 and low of Rs 70.25 so far during the day. The stock had hit a 52-week high of Rs 87.40 on 20 December 2007 and 52-week low of Rs 10.61on 3 January 2007.
The scrip had underperformed the market over the past one month till 9 January 2008, declining 1.78% as compared to the Sensex's return of 2.85%. However, it outperformed the market in the past one quarter, surging 130.38% as compared to the Sensex's rise of 10.93%.
India's fifth largest steel company in terms of sales has an equity capital of Rs 1222.44 crore. Face value per share is Rs 10.
At the current price of Rs 71.55, the scrip trades at a PE multiple of 162.61, based on Q2 September 2007 annualised EPS of Rs 0.44.
As per reports, Ispat Industries has already begun talks with leading private equity (PE) funds, who are keen to invest in the booming energy sector in India. Ispat Energy is at an advanced stage of completion of a 110 megawatt (MW) captive power plant at Dolvi in Maharashtra, near its steel plant. Ispat Energy has a debt of Rs 240 crore and equity of about Rs 150 crore.
Ispat Industries reported 483.60% spurt in net profit to Rs 13.54 crore on 7.60% rise in net sales to Rs 2025.56 crore in Q2 September 2007 over Q2 September 2006.
Ispat Industries is into manufacture of all types of galvanised plain/corrugated steel sheets/strips, coils and sponge iron.