At 2.14 pm, shares of the steel pipe maker were trading 15.20 per cent up at Rs 46.60. The scrip opened at Rs 40.80 and has touched a high and low of Rs 47.20 and Rs 40.20, respectively, in trade so far. Later, the scrip ended 13.72 per cent up at Rs 46.
Its total standalone income, however fell by 13 per cent to Rs 1,807.30 crore in January-March quarter of last fiscal from Rs 2,084.02 crore during the same quarter of 2014-15. Total expenses of the firm declined to Rs 1,557.30 crore from Rs 1,909.49 crore during the same quarter in the preceding fiscal.
The company also recommended a dividend of Re 1 per equity shares of Rs 2 each for the financial year March 31, 2016.