Radha Madhav Corporation surged 7.88% to Rs 23.95 at 11:53 IST on BSE after the company said it has allotted 35 lakh equity shares at Rs 12.50 per share to warrant holders upon conversion of 35 lakh warrants.
The announcement was made on Saturday, 21 November 2015.
Meanwhile, the S&P BSE Sensex was up 47.42 points or 0.18% at 25,915.91.
On BSE, so far 56,000 shares were traded in the counter as against average daily volume of 1.72 lakh shares in the past one quarter.
The stock hit a high of Rs 24.05 and a low of Rs 22.70 so far during the day. The stock had hit a 52-week high of Rs 54.10 on 20 January 2015. The stock had hit a 52-week low of Rs 20.15 on 16 November 2015.
The stock had underperformed the market over the past one month till 20 November 2015, sliding 10.66% compared with Sensex's 5.27% fall. The scrip had also underperformed the market in past one quarter, declining 39.26% as against Sensex's 6.3% fall.
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The small-cap company has equity capital of Rs 62.84 crore. Face value per share is Rs 10.
The warrants were held by both promoter and non-promoter shareholders, Radha Madhav Corporation said.
Radha Madhav Corporation's net profit rose 809.5% to Rs 3.82 crore on 597.5% growth in net sales to Rs 61.66 crore in Q2 September 2015 over Q2 September 2014.
Radha madhav Corporation is multi-material, multi-process and multi-product packaging solutions provider.
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