Magnus Steel and Infra share price hit the 5% upper circuit on Thursday, 23 July, after the company reported a sharp improvement in its June quarter (Q1 FY27) earnings.
The company posted a 490.6% year-on-year surge in net profit to ₹241.13 lakh for the quarter ended 30 June 2026, compared with ₹40.83 lakh in the corresponding quarter last year.
Revenue from operations jumped 273.7% YoY to ₹730.25 lakh, up from ₹195.43 lakh in Q1 FY26, driven by higher business activity.
On the cost front, total expenses stood at ₹489.12 lakh, lower than ₹561.39 lakh reported in the preceding March quarter. Profit before tax (PBT) came in at ₹241.13 lakh. The company did not provide for any tax expense during the quarter due to carried-forward and current losses.
In a separate development, Magnus Steel and Infra have deferred the meeting of its Rights Issue Committee until it receives the in-principle approval from the stock exchange for its proposed rights issue. The meeting, initially scheduled for 21 July 2026, will now be held on the next working day after the approval is received.
Earlier this month, the company’s Board of Directors approved a proposal to raise up to ₹40 crore through a rights issue of equity shares. The Rights Issue Committee has been entrusted with finalising key aspects of the issue, including the record date, issue price, entitlement ratio, and other terms and conditions.
The proposed rights issue, comprising equity shares with a face value of ₹10 each, is intended to strengthen the company’s financial position and augment its capital base by offering shares to eligible existing shareholders.
Magnus Steel and Infra share price today
Magnus Steel and Infra share price today opened at an intraday low of ₹52.03 apiece on the BSE, the stock touched an intraday high of ₹52.04 per share.
Magnus Steel and Infra share price has witnessed significant volatility across different timeframes. The stock has declined 14.45% over the past one week, extending its losses to 26.82% in the last two weeks and 37.90% over the past month. Over the three-month period, the stock has fallen 69.14%, reflecting sustained selling pressure.
However, the longer-term trend remains positive, with the stock gaining 15.06% over the past six months, 43.20% on a year-to-date (YTD) basis, and an impressive 912.45% over the last one year, highlighting the sharp rally it witnessed despite the recent correction.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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