Metal stock below Rs 50 gains over 4% even as stock markets slump amid weak global cues, here's why

Shares of Rathi Steel and Power Ltd gained over 4 per cent on Monday, June 8, 2026, even as the stock market benchmark indices, Sensex and Nifty, tumbled over 1 per cent in early trade amid weak global cues and a fresh spike in crude oil prices due to fresh tensions in the Middle East. The action in the stock comes after the company informed exchanges about the successful trial run for hot charging of mild steel (MS) billets for manufacturing MS TMT rebars. The counter opened in green at Rs 19.60, representing a gain of Rs 0.53 or 2.77 per cent from the previous close of Rs 19.07 on the BSE. The scrip continued its upward momentum and touched a high of Rs 19.90, a gain of Rs 0.83, or 4.35 per cent, from the last closing price. Last seen, the scrip held firmly in green and was trading at Rs 19.55, with a gain of Rs 0.48 or 2.52 per cent, and the market cap of the company stood at Rs 168.84 crore.