India TV

Metal stock hits 10% upper circuit even as Nifty Metal falls nearly 1% amid surge in crude oil prices

Shares of Ahmedabad-based TMT steel bars manufacturer Rhetan TMT surged 10 per cent to hit an upper circuit even as Nifty Metal fell nearly 1 per cent amid weakness in the benchmark indices as fresh strikes between the US and Iran drove investors into risk-off positioning. The counter opened at Rs 19.22, up 8.25 per cent from the previous close of Rs 19.16, and surged to an intraday high of Rs 21.05. Last seen, the stock was trading at Rs 21.04, and the company's market cap stood at Rs 1,676.63 crore. The stock reversed course today and gained after four consecutive falls.