JMT Auto was locked at 5% upper circuit at Rs 405.80 at 9:47 IST on BSE after the company's board at its meeting held on Tuesday, 10 June 2014, approved the issue of bonus shares in the ratio of 5:2 i.e., five bonus shares for every two shares held.
The announcement was made after market hours on Tuesday, 10 June 2014.
Meanwhile, the S&P BSE Sensex remained unchanged at 25,583.69.
On BSE, so far 2,298 shares were traded in the counter as against average daily volume of 4,757 shares in the past two weeks.
The stock's current price of Rs 405.80 is also a record high for the counter. The stock hit a low of Rs 405 so far during the day.
JMT Auto's net profit declined 16.2% to Rs 6.29 crore on 41.1% growth in net sales to Rs 101.88 crore in Q4 March 2014 over Q4 March 2013.
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JMT Auto is one of the leading auto component manufacturers in the Eastern region with manufacturing facilities spread across three locations in India viz., Jamshedpur (Jharkhand), Dharwad (Karnataka), and Lucknow (Uttar Pradesh) and business spread across countries like USA, Belgium, South East Asia, Brazil, Germany, Italy and Mexico.
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