Shares of Ratnamani Metals and Tubes rose on February 14 as investors cheered the company’s strong earnings report for the quarter that ended in December.

At 12:08 pm, Ratnamani Metals was trading at Rs 2,174.95 on the National Stock Exchange, up 3.07% from the previous close.

The company’s revenue rose 14% year-on-year to Rs 1,057 crore, while the EBITDA margin also expanded by 440 basis points to 18.4% in October-December.

Gross margins improved due to lower raw material costs, which helped drive EBITDA margin growth.

The company’s net profit for the period also rose 49% year-on-year to Rs 132 crore on the back of a solid top line and strong operating performance.

 Orders for the respective quarters also remained strong, which ICICI direct considers positive.

The gains were also supported by substantial volume, which was more than double the 20-day daily average. In addition, the stock has fallen in the past three consecutive sessions, which may also trigger some buying on the dips.