Somany Ceramics rose 2.28% to Rs 416.40 at 11:12 IST on BSE after the RBI notified that Registered Foreign Portfolios Investors can now invest up to 40% of the paid up capital of the company under the Portfolio Investment Scheme.
Meanwhile, the BSE Sensex was down 128 points, or 0.46%, to 27,829.50
On BSE, so far 4,288 shares were traded in the counter, compared with an average volume of 12,528 shares in the past one quarter.
The stock hit a high of Rs 427.50 and a low of Rs 415 so far during the day. The stock hit a record high of Rs 499.90 on 22 April 2015. The stock hit a 52-week low of Rs 201.75 on 26 May 2014.
The stock had underperformed the market over the past one month till 22 May 2015, falling 12.21% compared with Sensex's 0.24% rise. The scrip, however, outperformed the market in past one quarter, rising 10.24% as against Sensex's 4.36% fall.
The small-cap company has an equity capital of Rs 7.77 crore. Face value per share is Rs 2.
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The Reserve Bank of India after market hours on Friday, 22 May 2015 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40% of the paid up capital of Somany Ceramics under the Portfolio Investment Scheme (PIS). The RBI stated that the company has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, the RBI said.
Somany Ceramics' net profit rose 32.2% to Rs 14.78 crore on 11.5% increase in net sales to Rs 455.56 crore in Q4 March 2015 over Q4 March 2014.
Somany Ceramics is a manufacturer of ceramic tiles and allied products.
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