At the upper circuit and record high! Asset Reconstruction Company shares surge 10% - Why is fuelling the stock rise?
Asset Reconstruction Company shares opened at ₹149 against their previous close of ₹145.70 and jumped 10% to their upper price band and all-time high of ₹160.25.
Asset Reconstruction Company's share price surged 10% to hit its upper circuit as well as its record high on the BSE in intraday trade on Wednesday, 7 October, in an otherwise weak stock market. Asset Reconstruction Company shares opened at ₹ 149 against their previous close of ₹ 145.70 and jumped 10% to their upper price band and all-time high of ₹ 160.25. Meanwhile, equity benchmark Sensex declined by 0.75% during the session.
While the stock has been rising for three consecutive sessions now, Wednesday's rise in the stock can be attributed to a 54% year-on-year (YoY) rise in its consolidated profit for the June quarter of the financial year 2027 (Q1FY27).
In an exchange filing on 6 October, the company said its Q1FY27 consolidated profit stood at ₹ 89.15 crore, up 54.2% from ₹ 57.83 crore in the same quarter last year and 8.4% from ₹ 82.23 crore in Q4FY26.
(This is a developing story. Please check back for fresh updates.)
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