Astral Poly Technik rose 2.3% to Rs 483.50 at 15:14 IST on BSE after the company said that Bureau of Indian Standards has granted licence for the company's Product Blaze Master CPVC Pipes for fire sprinkler system.
The announcement was made during trading hours today, 24 March 2014.
Meanwhile, the S&P BSE Sensex was up 302.75 points or 1.39% at 22,058.07.
On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 5,060 shares in the past one quarter.
The stock hit a high of Rs 499.50 so far during the day, which is a record high for the counter. The stock hit a low of Rs 472.25 so far during the day. The stock had hit a 52-week low of Rs 134.04 on 22 March 2013.
The stock had outperformed the market over the past one month till 22 March 2014, advancing 21.32% compared with Sensex's 5.09% rise. The scrip had also outperformed the market in past one quarter, jumping 50.02% as against Sensex's 3.2% rise.
The small-cap company has equity capital of Rs 11.24 crore. Face value per share is Rs 2.
Astral Poly Technik (Astral) is the first licensee company of Lubrizol-USA (a company owned by Berkshire Hathway-USA) in India for its Product Blaze Master for fire sprinkler system using CPVC Polymer, the company said in a statement. Indian piping market is predominantly controlled by metallic pipes for fibre sprinkler system so far and Astral will be the first mover in the country for CPVC polymer fire sprinkler solution which will be absolutely free from all shortcomings of metallic pipes such as corrosion, scaling and rusting, Astral said in a statement.
Astral Poly Technik's net profit surged 100.9% to Rs 21.32 crore on 28.4% growth in net sales to Rs 264.96 crore in Q3 December 2013 over Q3 December 2012.
Astral Poly Technik manufactures CPVC plumbing systems for both residential and industrial applications, and also ASTM solvent weld lead free PVC plumbing systems.
Powered by Capital Market - Live News
