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Bajaj Steel Shares Hit New High of Rs 1,432

Bajaj Steel Industries Ltd shares hit a new high of Rs 1,432, ralling 10 per cent on the BSE in the intra-day trade on Friday, in an otherwise weak market. In comparison, the S&P BSE Sensex was down 0.36 per cent at 52,433 points at 10:18 am.

Bajaj Steel is engaged in the manufacture and sale of machinery for cotton ginning and pressing, used for preparing textile fabrics in India and abroad. It is the only company in the world that produces machinery for all cotton ginning technologies.

BSL operates in two business segments: steel division and plastics division. The products manufactured by the company include ginning machine cotton ball opener, cotton baling press, cotton pre-cleaner, lint cleaner, auto feeder, cottonseed delinting machine, decorticator hull beater, cottonseed cleaner, and linter cleaner.

In the past one month, the stock has zoomed 125 per cent as compared to a 0.81 per cent rise in the S&P BSE Sensex. Meanwhile, in the past one year, it has skyrocketed 1,211 per cent as against a 43 per cent rally in the benchmark index. The company is listed only on the BSE.

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