Aarti Industries jumped 3.68% to Rs 100 at 10:27 IST on BSE after the company said that the Gujarat Pollution Control Board has allowed the company to restart the manufacturing activities at its Vapi plants.
The announcement was made after market hours on Tuesday, 14 January 2014.
Meanwhile, the S&P BSE Sensex was up 181.98 points or 0.87% at 21,214.86.
On BSE, so far 2,856 shares were traded in the counter as against average daily volume of 11,529 shares in the past one quarter.
The stock hit a high of Rs 100 and low of Rs 96.30 so far during the day. The stock had hit a 52-week high of Rs 106.80 on 9 January 2014. The stock had hit a 52-week low of Rs 62 on 28 August 2013.
The stock outperformed the market over the past one month till 14 January 2014, advancing 5.01% compared with the Sensex's 1.53% rise. The scrip also outperformed the market in past one quarter, jumping 27.41% as against Sensex's 2.06% rise.
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The small-cap company has equity capital of Rs 44.30 crore. Face value per share is Rs 5.
Aarti Industries said that the Gujarat Pollution Control Board (GPCB) vide order dated 13 January 2014 has revoked its earlier order and has allowed the company to restart/commence the manufacturing activities at its Vapi plants viz Alchemie Organic Division and Aarti Fertilizers Division. On receipt of such order, commercial operation/production in company's division viz. Alchemie Organic and Aarti Fertilizers has commenced with effect from 14 January 2014, the company said.
On account of this, operating profit for the quarter ending March 2014 would be affected by approximately Rs 3.5 to Rs 4 crore, Aarti Industries said in a statement.
It may be recalled that Aarti Industries had on 31 December 2013 said that it received orders from GPCB for closure of manufacturing activities at two of its various plant locations in Vapi, viz. Alchemie Organic Division and Aarti Fertilizers Division at Vapi, from 1 January 2014.
The said plants annually contribute around 15% of the operating profit of the company, Aarti Industries said at that time.
Aari Industries' net profit jumped 49.9% to Rs 42.35 crore on 38% growth in net sales to Rs 637.70 crore in Q2 September 2013 over Q2 September 2012.
Aarti Industres is one of the leading suppliers to global manufacturers of dyes, pigments, agrochemicals, pharmaceuticals & rubber chemicals.
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