Ess Dee Aluminium jumped 6.70% to Rs 568 at 14:19 IST on BSE after the Reserve Bank of India on Monday, 9 December 2013, allowed foreign institutional investors and non-resident Indians to increase stake in the company.
Meanwhile, the BSE Sensex was down 78.95 points, or 0.37%, to 21,247.47.
On BSE, 1.09 lakh shares were traded in the counter compared with average volume of 19,331 shares in the past one quarter.
The stock hit a high of Rs 584 and a low of Rs 536 so far during the day. The stock hit a 52-week high of Rs 617 on 18 June 2013. The stock hit a 52-week low of Rs 252.30 on 20 March 2013.
The stock had underperformed the market over the past one month till 9 December 2013, rising 1.55% compared with the Sensex's 3.19% rise. The scrip had also underperformed the market in past one quarter, rising 5.96% as against Sensex's 10.67% rise.
The small-cap company has an equity capital of Rs 32.05 crore. Face value per share is Rs 10.
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The limit on investments in Ess Dee Aluminium's equity shares and convertible debentures by foreign institutional investors through primary market and stock exchanges was raised to 100%, the Reserve Bank of India (RBI) said.
Non-resident Indians (NRI) and Persons of Indian Origin (PIO) can invest in up to 24% of the company's paid-up capital, according to the RBI.
On a consolidated basis, Ess Dee Aluminum's net profit fell 38.1% to Rs 9.37 crore on 1.9% fall in net sales to Rs 176.36 crore in Q2 September 2013 over Q2 September 2012.
Ess Dee Aluminum manufactures aluminium foils for packaging purpose.
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