5 days ago
Rhetan TMT Hits Upper Circuit Amid Market Crash
Rhetan TMT is a small company whose shares rose sharply even while the wider stock market fell.
Its shares reached the daily limit called the upper circuit.
Many shares were traded during the session.
The company recently started using electricity from a new solar power project.
The project is located at its manufacturing facility in Kadi, Gujarat.
Rhetan TMT also reported much higher profit in the latest quarter.
However, its revenue was lower than in the same quarter a year earlier.
Its share price has still fallen over the past week, month, and year so far.
Rhetan TMT shares opened at ₹21.03 and hit the 10% upper circuit, versus Tuesday’s close of ₹19.12.
The rally occurred as the Sensex fell 788.52 points and the Nifty declined 269 points in early trading.
About 22.3 lakh Rhetan TMT shares changed hands during the intraday session on 2 September.
The company said its 1 MW captive solar project in Kadi, Gujarat, began commercial power generation.
Rhetan TMT’s Q1FY27 net profit rose 315% year on year to ₹3.16 crore, although operating revenue fell 19.3% to ₹4.06 crore.
- Who
- Rhetan TMT and investors trading its shares.
- What
- Rhetan TMT shares reached the 10% upper circuit despite a sharp decline in benchmark indices.
- Where
- On the NSE; the company’s solar project operates at its manufacturing facility in Kadi, Gujarat.
- When
- Wednesday’s trading session; the article cites intraday trading on 2 September and Q1FY27 results.
- Why
- The article links the rally to higher trading volumes and highlights the company’s solar project and improved quarterly profitability.
Key facts
- Opening price
- ₹21.03 per share on NSE
- Previous close
- ₹19.12 on Tuesday
- Trading volume
- Around 22.3 lakh shares changed hands intraday
- Solar project
- A 1 MW AC captive ground-mounted project began power generation
- Q1FY27 net profit
- ₹3.16 crore, up 315% year on year
- Q1FY27 revenue
- ₹4.06 crore, down 19.3% year on year
- Recent share performance
- Down 4.19% in one week, 31.46% in one month, and over 15% year to date
Sources
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