The stock rallied 8% to Rs 730 on the BSE in intra-day trade in otherwise weak market after the textile company said that its board will meet on Thursday to consider share buyback proposal.
The stock was trading higher by 7% to Rs 600 on the BSE after the stock turned ex-stock split to Rs 5 from Rs 10.
The stock hit a record high of Rs 1,242 has been more-than-doubled from its 52-week low of Rs 620 hit on Feb 17, 2016 in intra-day trade.
The firm plans to expand the capacity by 100% to 50 MT