Finolex Cables rose 2.98% to Rs 86.10 at 10:12 IST on BSE after the company said it won an advance purchase order of over Rs 200 crore for metal free optical fibre cable of the national optic fibre network backbone project.
The company made the announcement after trading hours on Tuesday, 21 January 2014.
Meanwhile, the BSE Sensex was down 2.90 points, or 0.01%, to 21,248.22.
On BSE, so far 79,000 shares were traded in the counter, compared with an average volume of 1.76 lakh shares in the past one quarter.
The stock hit a high of Rs 86.90 and a low of Rs 85.05 so far during the day. The stock hit a 52-week high of Rs 92.10 on 6 January 2014. The stock hit a 52-week low of Rs 41.25 on 22 March 2013.
The stock had outperformed the market over the past one month till 21 January 2014, rising 3.52% compared with the Sensex's 0.81% rise. The scrip had also outperformed the market in past one quarter, rising 41.91% as against Sensex's 1.71% rise.
The small-cap company has an equity capital of Rs 30.59 crore. Face value per share is Rs 2.
The national optic fibre network backbone project is targeted at providing connectivity to over 2.5 lakh gram panchayats across the country for better e-governance, e-health services, and educational services to the people of India, Finolex Cables said in a statement.
Net profit of Finolex Cables rose 39.19% to Rs 79.98 crore on 1.36% rise in net sales to Rs 587.45 crore in Q2 September 2013 over Q2 September 2012.
Finolex Cables, the flagship company of the Finolex Group, is India's largest and leading manufacturer of electrical and telecommunication cables.
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