Astra Microwave Products rose 5.30% to Rs 154.10 at 9:31 IST on BSE after the company said that it has incorporated a subsidiary in Singapore to carry on the business in the areas of high-end microwave integrated chip business.
The announcement was made after market hours yesterday, 8 April 2015.
Meanwhile, the BSE Sensex was up 100.98 points, or 0.35%, to 28,808.73.
On BSE, so far 96,000 shares were traded in the counter, compared with an average volume of 3.07 lakh shares in the past one quarter.
The stock hit a high of Rs 163.25 and a low of Rs 148.80 so far during the day. The stock hit a 52-week high of Rs 165.90 on 19 February 2015. The stock hit a 52-week low of Rs 53.70 on 28 April 2014.
The stock had outperformed the market over the past one month till 7 April 2015, rising 0.73% compared with 3.17% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.90% as against Sensex's 5.97% rise.
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The small-cap company has an equity capital of Rs 16.37 crore. Face value per share is Rs 2.
Astra Microwave Products said that it has incorporated a wholly-owned subsidiary company in the name of Aelius Semiconductors Pte., Singapore with effect from 8 April 2015 to carry on the business in the areas of high end microwave integrated chip business and related areas.
Astra Microwave Products' net profit rose 16.8% to Rs 12.70 crore on 20% decline in total income to Rs 149.03 crore in Q3 December 2014 over Q3 December 2013.
Astra Microwave Products develops, manufactures, and distributes wireless communication solutions. The company offers products in the areas of telecommunications, defense, and space, and the product line includes amplifiers, base stations, dish antennas, filters, microwave components, and switching equipment.
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