Hanung Toys & Textiles was locked at 5% upper circuit at Rs 16.45 at 10:35 IST on BSE, with the stock extending Wedneday's 5% rally triggered by the company withdrawing its proposal of a 2-for-1 stock split.
Meanwhile, the S&P BSE Sensex was up 359.41 points or 1.94% at 18,926.96.
On BSE, 39,000 shares were traded in the counter as against average daily volume of 1.21 lakh shares in the past one quarter.
The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 16.45 so far in the day. The stock had hit a record low of Rs 12.35 on 30 August 2013. The stock had hit a 52-week high of Rs 179.55 on 8 January 2013.
The stock had underperformed the market over the past one month till 4 September 2013, sliding 47.85% compared with the Sensex's 3.11% fall. The scrip had also underperformed the market in past one quarter, declining 85.59% as against Sensex's 5% fall.
The small-cap company has equity capital of Rs 26.58 crore. Face value per share is Rs 10.
Shares of Hanung Toys & Textiles have rallied 10.18% in two trading sessions from Rs 14.93 on 3 September 2013, after the company after market hours on Tuesday, 3 September 2013, said its board of directors at a meeting held on Tuesday, decided to withdraw its proposal of a 2-for-1 stock split. The stock had spurted by the maximum permissible level of 5% to settle at Rs 15.67 on Wednesday, 4 September 2013.
Hanung Toys & Textiles said that its board has decided to withdraw stock-split proposal as the company's stock price has fallen steeply. The purpose of sub-division was to make the company's share more affordable for the small retail investors to invest in the company.
Hanung Toys & Textiles reported a net loss of Rs 77.68 crore in Q1 June 2013, as against net profit of Rs 26.82 crore in Q1 June 2012. Net sales declined 15.3% to Rs 319.12 crore in Q1 June 2013 over Q1 June 2012.
Hanung Toys & Textiles operates in two segments -- toys and textiles.
Powered by Capital Market - Live News
