Gujarat Apollo Industries rose 2.64% to Rs 107.05 at 9:55 IST on BSE after the company said its board of directors will meet on 18 January 2014, to consider a proposal of buyback of equity shares of the company.
The announcement was made after market hours on Monday, 13 January 2014.
Meanwhile, the S&P BSE Sensex was down 18.26 points or 0.09% at 21.115.95.
On BSE, 4,685 shares were traded in the counter as against average daily volume of 11,992 shares in the past one quarter.
The stock hit a high 110.85 and a low of Rs 106.10 so far during the day. The stock had hit a 52-week high of Rs 122.80 on 25 February 2013. The stock had hit a 52-week low of Rs 76 on 28 August 2013.
The stock had outperformed the market over the past one month till 13 January 2014, advancing 3.63% compared with the Sensex's 2.02% rise. The stock had also outperformed the market in past one quarter, jumping 23.29% as against Sensex's 2.95% rise.
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The small-cap company has equity capital of Rs 16.58 crore. Face value per share is Rs 10.
Gujarat Apollo Industries' net profit fell 5.9% to Rs 2.23 crore on 82.9% decline in net sales to Rs 6.92 crore in Q2 September 2013 over Q2 September 2012.
Gujarat Apollo Industries is engaged in road construction equipment business in India.
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