Readymade Steel India saw huge selling pressure despite positive trend in the market.

As per report the stock gained as much as 9% to hit an intraday high in early trade of INR 117.75, before seeing a sharp sell off. It plunged 38.5%, to close at INR 66.45 a share on the Bombay Stock Exchange.

In an interview with CNBC-Awaaz, Mr Anil Agrawal MD expects 50% growth in sales for FY12. He added that "Our current capacity stands at 27,000 tonne, which will be increased to 190,000 tonne after expansion.”

(Sourced from www.moneycontrol.com)