Asian Granito India was locked at 5% upper circuit at Rs 104.35 at 11:50 IST on BSE after the company said its board has framed a Committee of Directors to analyze the matter on allotment of warrants by way of preferential issue.
The announcement was made on Saturday, 30 August 2014.
Meanwhile, the S&P BSE Sensex was up 197.24 points or 0.74% at 26,835.35.
On BSE, so far 9,912 shares were traded in the counter as against average daily volume of 40,522 shares in the past one quarter.
The stock's current price of Rs 104.35 is also its 52-week high. The stock hit a low of Rs 101 so far during the day. The stock had hit a 52-week low of Rs 22 on 14 November 2013.
The stock had outperformed the market over the past one month till 28 August 2014, jumping 41.9% compared with Sensex's 2.49% rise. The scrip had also outperformed the market in past one quarter, advancing 176.11% as against Sensex's 8.48% rise.
The company has equity capital of Rs 22.58 crore. Face value per share is Rs 10.
Asian Granito India's board of directors at its meeting held on 30 August 2014, framed a Committee of Directors to analyze the matter on allotment of warrants by way of preferential issue and after due study, the Committee will suggest the ways and means and various options in next four to five weeks.
Asian Granito India's net profit jumped 31.4% to Rs 3.35 crore on 12.2% growth in net sales to Rs 175.98 crore in Q1 June 2014 over Q1 June 2013.
Asian Granito India is one of the leading growing ceramic, vitrified tile, marble and quartz company.
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