Atul Auto lost 1.79% to Rs 532.95 at 9:50 IST on BSE, with the stock sliding on profit booking after recent rally after the company said its board of directors at a meeting held on Thursday, 26 June 2014, approved 2-for-1 stock split.
The announcement was made after market hours on Thursday, 26 June 2014.
Meanwhile, the S&P BSE Sensex was up 96.24 points or 0.38% at 25,158.91.
On BSE, so far 3,028 shares were traded in the counter as against average daily volume of 11,000 shares in the past two weeks.
The stock hit a high of Rs 547.50 so far during the day, which is a record high for the counter. The stock hit a low of Rs 518.75 so far during the day.
Shares of Atul Auto had rallied 17.08% to settle at Rs 542.65 on Thursday, 26 June 2014, from Rs 463.45 on 19 June 2014 after the company said after market hours on 19 June 2014 that its board will consider stock-split on Thursday, 26 June 2014.
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Atul Auto's net profit rose 11.9% to Rs 8.45 crore on 17.1% growth in net sales to Rs 112.31 crore in Q4 March 2014 over Q4 March 2013.
Atul Group is a leading manufacturer of three-wheeled commercial vehicles in the state of Gujarat.
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