Surya Roshni extends rally on strong Q3 earnings; stock surges 30% in Jan

The company's steel pipes segment Ebitda/tonne jumped 76 per cent YoY to Rs 6,733 led by strong growth in value added products (mainly API pipes)

Shares of Surya Roshni hit a fresh 52-week high of Rs 639.35, as they rallied 6 per cent on the BSE in Tuesday's intra-day trade. Thus far in the month of January, the stock has surged 30 per cent after the company reported strong earnings for the quarter ended December (Q3FY23). In comparison, the S&P BSE Sensex was down 3 per cent during the month.

Currently, Surya Roshni is trading at its highest level since December 2021. It had hit a record high of Rs 868 on October 4, 2021. The company is the largest exporter of ERW pipes,