Kwality rose 4.9% to Rs 110.30 at 10:28 IST on BSE after the company said that its board has approved the conversion of 51.81 lakh warrants issued at a price of Rs 48.25 per share into equal numbers of equity shares.
The announcement was made on Saturday, 12 March 2016.Meanwhile, the S&P BSE Sensex was up 160.59 points or 0.65% at 24,878.58.
On BSE, so far 1.52 lakh shares were traded in the counter as against average daily volume of 5.29 lakh shares in the past one quarter. The stock hit a high of Rs 110.75 and a low of Rs 106.10 so far during the day. The stock had hit a 52-week high of Rs 153.70 on 28 February 2015. The stock had hit a 52-week low of Rs 35.25 on 27 March 2015. The stock had outperformed the market over the past one month till 11 March 2016, surging 17.29% compared with the Sensex's 7.7% rise. The stock had, however, underperformed the market in past one quarter, declining 4.23% as against Sensex's 1.3% fall.
The small-cap company has equity capital of Rs 21.87 crore. Face value per share is Rs 1.
Kwality said that its board of directors at a meeting held on Saturday, 12 March 2016, approved the conversion of 51.81 lakh warrants issued at a price of Rs 48.25 per share into equal numbers of equity shares of face value of Rs 1 each allotted to Sonika Gupta.
Kwality's net profit rose 3.5% to Rs 37.40 crore on 12.1% growth in net sales to Rs 1441.22 crore in Q3 December 2015 over Q3 December 2014.
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Kwality is India's premier dairy foods company.
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