The shares of Rhetam TMT soared nearly 10 per cent to hit the upper circuit for the second consecutive day on Thursday as buying momentum sustained amid positive sentiment in the domestic stock market. The small-cap metal stock started the session at Rs 23.12, hitting a 9.99 per cent upper circuit as compared to the last day's closing of Rs 21.02 on the NSE. The stock maintained the status quo till the time of writing.

Earlier, on Wednesday, Rhetan TMT share rose to hit a circuit at Rs 21.03 despite a massive sell-off in the stock market. The shares closed at Rs 19.12 on Tuesday.

Meanwhile, it's 52 week high and low values stood at Rs 34.87 and Rs 19.10, respectively. The company, which deals in TMT bars, has a market cap of over Rs 1,800 crore. 

What are the triggers behind the recent rally? 

  1. Rhetan TMT is seeking approval to increase its borrowing limit from Rs 200 crore to Rs 300 crore as the company want to create more room for business expansion. 
  2. The steelmaker believes that a higher borrowing limit will give additional financial flexibility to fund its growth plan. 
  3. The development came alongside recent developments. Rhetan TMT had announced earlier that it started generating power from a 1 MW captive solar project at its Gujarat manufacturing facility. 

Company Commenced Solar Project 

In an August 19 exchange filing, Rhetan TMT announced the successful launch of its 1 MW (AC) captive ground-mounted solar project at its Kadi, Gujarat facility. The company said that it has secured all necessary approvals and completed all development and testing phases.  The project is now fully operational, providing electricity for the company's internal use.

Also Read: Sensex Up 220 Points, Nifty Gains; Key Factors Driving Positive Sentiment In Stock Market

Rhetan TMT Q1 results 2026

  • Surging Net Profit: The company reported a significant 315 per cent year-on-year (YoY) increase in net profit after tax (PAT), reaching Rs 3.16 crore compared to Rs 0.76 crore in Q1 FY26.

  • Strong Growth in PBT: Profit before tax (PBT) also saw a substantial surge of 335.5 per cent YoY, rising to Rs 3.31 crore from Rs 0.76 crore in the same quarter last year.

  • Earnings Performance: During the quarter under review, the company's earnings per share (EPS) stood at Rs 0.04.

  • Decline in Revenue: Despite the sharp improvement in overall profitability, net revenue from operations witnessed a decline of 19.3 per cent YoY, falling to Rs 4.06 crore from Rs 5.04 crore in Q1 FY26.