DCM Shriram rose 1.43% to Rs 159.40 at 9:40 IST on BSE after the company said it sold its textile spinning unit in Rajasthan for Rs 17.12 crore.
The company made the announcement after market hours on Tuesday, 24 June 2014.
Meanwhile, the BSE Sensex was up 10.25 points, or 0.04%, to 25,379.15.
On BSE, so far 790 shares were traded in the counter, compared with an average volume of 78,788 shares in the past one quarter.
The stock hit a high of Rs 161.35 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 159 so far during the day. The stock hit a 52-week low of Rs 50.40 on 29 August 2013.
The stock had outperformed the market over the past one month till 24 June 2014, rising 17.98% compared with 2.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 74.13% as against Sensex's 15.02% rise.
The small-cap company has an equity capital of Rs 33.18 crore. Face value per share is Rs 2.
DCM Shriram said it sold its textile spinning unit, Swatantra Bharat Mills in Tonk, Rajasthan as a running business for a lump sum consideration of Rs 17.12 crore. The sale has been effected on 24 June 2014.
On a consolidated basis, DCM Shriram's net profit rose 0.6% to Rs 82.80 crore on 3.6% increase in net sales to Rs 1468.41 crore in Q4 March 2014 over Q4 March 2013.
DCM Shriram's business portfolio comprises primarily of two types of businesses: agri-rural business and chlor-vinyl business.
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