CMI rose 1.72% to Rs 302.40 at 10:24 IST on BSE after the company said that a meeting of its board of directors will be held on 30 March 2016, to consider the merger of wholly owned subsidiary, CMI Energy India with the company.
The announcement was made after market hours on Wednesday, 23 March 2016. The stock market was closed on Thursday, 24 March 2016 and Friday, 25 March 2016 due to holidays.Meanwhile, the S&P BSE Sensex was down 72.68 points or 0.29% at 25,264.88.
On BSE, so far 4,439 shares were traded in the counter as against average daily volume of 59,468 shares in the past one quarter. The stock hit a high of Rs 303 and a low of Rs 297 so far during the day. The stock had hit a record high of Rs 423.90 on 27 January 2016. The stock had hit a 52-week low of Rs 85 on 13 May 2015. The stock had underperformed the market over the past one month till 23 March 2016, declining 9.11% compared with the Sensex's 8.23% rise. The scrip had also underperformed the market in past one quarter, sliding 23.32% as against Sensex's 1.98% fall.
The small-cap company has equity capital of Rs 13.38 crore. Face value per share is Rs 10.
CMI's net profit rose 139.3% to Rs 4.81 crore on 80.6% growth in net sales to Rs 66.44 crore in Q3 December 2015 over Q3 December 2014.
CMI is engaged in manufacturing of special type of cables as per national/international specifications to meet the critical requirements of its customers.
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