Aarti Industries rose 2.24% to Rs 123.35 at 13:46 IST on BSE after the company in a clarification said that there was no incident of fire at any unit of Aarti Industries.
The clarification was issued after market hours on Wednesday, 16 April 2014.
Meanwhile, the S&P BSE Sensex was up 304.35 points or 1.37% at 22,581.58.
On BSE, so far 3,921 shares were traded in the counter as against average daily volume of 25,139 shares in the past one quarter.
The stock hit a high of Rs 123.40 and low of Rs 120.40 so far during the day. The stock had hit a record high of Rs 136.90 on 20 March 2014. The stock had hit a 52-week low of Rs 62 on 28 August 2013.
The stock had underperformed the market over the past one month till 16 April 2014, declining 2.39% compared with the Sensex's 2.14% rise. The scrip had, however, outperformed the market in past one quarter, jumping 21.68% as against Sensex's 4.76% rise.
The small-cap company has equity capital of Rs 44.30 crore. Face value per share is Rs 5.
Aarti Industries in a clarification issued to the stock exchange said that a misquoted article on fire incident at the Boisar unit of the Aarti Industries was published in a Gujarati newspaper daily on 14 April 2014. Aarti Industries said that the article is erroneous and based on wrong information. The company added that there was no such incident of fire at any unit of Aarti Industries and the article is published based on wrong information. The concerned newspaper daily has been approached to make suitable clarifications for the same, Aarti Industries said.
Aarti Industries' net profit surged 69.4% to Rs 36.97 crore on 42.2% growth in net sales to Rs 639.67 crore in Q3 December 2013 over Q3 December 2012.
Aarti Industries is one of the leading suppliers to global manufacturers of dyes, pigments, agrochemicals, pharmaceuticals & rubber chemicals.
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