Shares of Sunflag Iron & Steel Company hit a fresh high of Rs 145.50, up 5% on the BSE in Wednesday’s intraday trade in an already weak market. Shares of the steel company have soared 12% over the past two sessions. In contrast, the S&P BSE Sensex fell 1.2% to 60,269 at 11:54 am.
Sunflag Iron & Steel Shares have risen 54% over the past month, with a gain of less than 1% for the Sensex index. Plus, it’s up nearly 80% in three months, compared with a 1% gain for the benchmark index.
Sunflag Iron & Steel is engaged in manufacturing carbon steel, free-cutting steel, semi-free-cutting steel, micro-alloyed steel, stainless steel, spring steel, valve steel, bearing steel, high-quality steel, tool steel and other low-carbon steel and alloy steel products, etc.
The company also manufactures components for critical applications to Indian Railways, Ordnance Plants, the Power Sector and other general engineering sectors.