New Delhi, July 16 -- Metal stock Shyam Metalics rose more than 2% in intraday deals on Thursday, 16 July, to hit a record high, buoyed by the company's business update. Shyam Metalics and Energy share price opened at Rs.1,028.05 against its previous close of Rs.1,033.90 and climbed 2.4% to an all-time high of Rs.1,059. The stock pared gains later and traded 0.63% up at Rs.1,040.40 around 2:40 PM.

In an exchange filing during market hours on 16 July, Shyam Metalics said its step-down subsidiary, SMEL Steel Structural Pvt. Ltd., started commercial production at its aluminium foil facility in Sambalpur, Odisha.

The facility has an installed operational capacity of 18,000 tonnes per annum (TPA) and is equipped to manufacture premium-grade ...