Steelcast, a  small-cap company is doing well. The stock did well yesterday and today also, it is in the green. The stock is currently up 3.5% at Rs.28.50, its current intra day high point. Two days ago, the stock had hit a new 52-week low at Rs.24. Volumes though remain low at less than 500 shares.

The stock is in the green ever since the company announced yesterday afternoon that it plans to raise its capacity. Till date the company has invested Rs.100 crore to raise capacity fro, 10,000 tpa to 30,000 tpa. Its capacity till end of Fy13 stood at 22,000 tpa and by end of Oct’13, it is expected to go up to 30,000 tpa. Last year, the company had invested around Rs 45 crore while this fiscal it will be investing another Rs 23 crore.

In the issued Press statement, the company has stated that with this brown-field capacity expansion being over by October 2013, Steelcast will become one of the few companies in the world making niche product for mining & construction equipment companies worldwide. With the capacity increase, the company aims higher exports. As at 31^st March 2013, 53% of the total sales came from exports and by March 2015, it aims to take this share up to 65% of total sales.