Srikalahasthi Pipes surged 17.74% to Rs 77.65 at 14:42 IST on BSE after net profit jumped 87.8% to Rs 18.33 crore on 2.6% decline in net sales to Rs 257.13 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours on Friday, 31 October 2014.
Meanwhile, the S&P BSE Sensex was down 46.95 points or 0.17% at 27,818.88.
On BSE, so far 8.54 lakh shares were traded in the counter as against average daily volume of 89,341 shares in the past one quarter.
The stock hit a high of Rs 78.40 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 69 so far during the day. The stock had hit a 52-week low of Rs 19.55 on 4 December 2013.
The stock had outperformed the market over the past one month till 31 October 2014, surging 19.69% compared with Sensex's 4.64% rise. The scrip had also outperformed the market in past one quarter, jumping 43.68% as against Sensex's 7.61% rise.
The small-cap company has equity capital of Rs 39.76 crore. Face value per share is Rs 10.
Srikalahasthi Pipes' director Mr G S Rathi said that the company has successfully completed commissioning and synchronization of its 132 kv sub-station which will provide stable and quality power supply. The company's expansion program of Rs 100 crore for creating the balancing facilities is as per schedule and the company is hopeful of completing the project during last quarter of the current financial year. This will increase the company's ductile iron pipe production by 50,000 MT per annum.
Srikalahasthi Pipes (formerly Lando Industries) manufactures ductile iron pipes.
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