Anik Industries rose 3.92% to Rs 25.20 at 12:33 IST on BSE after the company said that its board of directors, discussed the need to undertake restructuring or strategic action in respect of the dairy business.
The announcement was made after market hours yesterday, 10 June 2015.
Meanwhile, the S&P BSE Sensex was down 221.55 points or 0.83% at 26,618.95.
On BSE, so far 1,556 shares were traded in the counter as against average daily volume of 1,812 shares in the past one quarter.
The stock hit a high of Rs 25.45 and a low of Rs 23.60 so far during the day. The stock had hit a 52-week high of Rs 36.60 on 8 October 2014. The stock had hit a 52-week low of Rs 21.20 on 28 April 2015.
The stock had outperformed the market over the past one month till 10 June 2015, surging 4.98% compared with Sensex's 0.98% fall. The scrip had also outperformed the market in past one quarter, rising 2.97% as against Sensex's 6.51% fall.
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The small-cap company has equity capital of Rs 27.75 crore. Face value per share is Rs 10.
Anik Industries said that its board of directors at a meeting held yesterday, 10 June 2015, inter alia, discussed over the dairy business of the company including current business position, future scenario and also about the need to undertake restructuring or strategic action in respect of the dairy business. The Board authorised Mr. Manish Shahra, joint managing director of the company to evaluate all the options available and also to choose/accept the best option available, if any, subject to further approval of the board and all concerned authorities in the interest of the company, Anik Industries said.
Anik Industries' net profit declined 17.2% to Rs 4.42 crore on 13.4% growth in net sales to Rs 482.96 crore in Q4 March 2015 over Q4 March 2014.
Anik Industries is engaged in the business of processing of milk and milk products, trading of agri- commodities and coal, and wind power generation
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