Shares of Uniply Industries have locked in upper circuit of 5% at Rs 54.25, extending it’s a month long rally on the bourses. Currently, the stock trading at its 52-week high price and zoomed 172% in past one month from Rs 20 on May 15 compared to 1.4% fall in the S&P BSE Sensex. Till 1447 hours, a combined 121,090 shares changed hands and there were pending buy orders for 143,006 shares on the BSE and NSE. The company engaged in forest products business had reported a net profit of Rs 3.06 crore for the quarter ended March 31, 2015 (Q4) against a loss of Rs 2.28 crore in the year ago quarter. Meanwhile, on June 10, 2015, the board had taken a record the change in management affairs of the company subsequent to the completion of open offer formalities. The Keshav Kantamneni had made an open offer to buy 26% stake of the Uniply Industries for Rs 13.50 each.
But it could garner just 900 shares through the offer, which ended on April 29, as against the target of 4.5 million shares.