Somany Ceramics rose 2.28% to Rs 416.40 at 11:12 IST on BSE after the RBI notified that Registered Foreign Portfolios Investors can now invest up to 40% of the paid up capital of the company under the Portfolio Investment Scheme.
Meanwhile, the BSE Sensex was down 128 points, or 0.46%, to 27,829.50
On BSE, so far 4,288 shares were traded in the counter, compared with an average volume of 12,528 shares in the past one quarter.
The stock hit a high of Rs 427.50 and a low of Rs 415 so far during the day. The stock hit a record high of Rs 499.90 on 22 April 2015. The stock hit a 52-week low of Rs 201.75 on 26 May 2014.
The stock had underperformed the market over the past one month till 22 May 2015, falling 12.21% compared with Sensex's 0.24% rise. The scrip, however, outperformed the market in past one quarter, rising 10.24% as against Sensex's 4.36% fall.
The small-cap company has an equity capital of Rs 7.77 crore. Face value per share is Rs 2.
The Reserve Bank of India after market hours on Friday, 22 May 2015 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40% of the paid up capital of Somany Ceramics under the Portfolio Investment Scheme (PIS). The RBI stated that the company has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, the RBI said.
Somany Ceramics' net profit rose 32.2% to Rs 14.78 crore on 11.5% increase in net sales to Rs 455.56 crore in Q4 March 2015 over Q4 March 2014.
Somany Ceramics is a manufacturer of ceramic tiles and allied products.
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