Shares of Jindal Stainless hit 9-year high on March quarter results.

The stock rose as much as 5.9 per cent in early trade to highest since January 18, 2008.

The company has reported a net profit of Rs 161 crore ($25.14 million) for the quarter ended March from a loss of Rs 171 crore a year earlier.

Around 1 million shares change hands, more than double its 30-day average in the first 45 minutes of trade.

The stock gained 109.2 per cent this year as of Friday's close.