Nitin Fire Protection Industries was locked at 5% upper circuit at Rs 4.89 at 14:32 IST on BSE, with the stock extending recent sharp rally.
Meanwhile, the S&P BSE Sensex was down 13.87 points or 0.04% at 31,648.87. The S&P BSE Small-Cap index fell 35.97 points or 0.22% at 16,302.66.
On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 3.63 lakh shares in the past one quarter. The stock had opened with an upward gap and remained locked at 5% circuit level at Rs 4.89 so far during the day. The stock had hit a 52-week high of Rs 37.35 on 1 November 2016 and a record low of Rs 3.60 on 31 August 2017.
The stock had underperformed the market over the past one month till 7 September 2017, sliding 19.38% compared with the Sensex's 1.89% fall. The stock had also underperformed the market over the past one quarter, declining 54.98% as against the Sensex's 1.25% rise. The scrip had also underperformed the market over the past one year, sliding 83.68% as against the Sensex's 9.46% rise.
The small-cap company has equity capital of Rs 58.45 crore. Face value per share is Rs 2.
Shares of Nitin Fire Protection Industries have rallied 33.6% in six trading sessions to its ruling market price, from its close of Rs 3.66 on 31 August 2017.
The company scheduled a board meeting on 14 September 2017 to declare Q1 June 2017 results. On a consolidated basis, Nitin Fire Protection Industries reported net loss of Rs 109.84 crore in Q1 June 2017, compared with net profit of Rs 11.34 crore in Q1 June 2016. Net sales declined 98.9% to Rs 3.36 crore in Q4 March 2017 over Q4 March 2016.
Nitin Fire Protection Industries provides fire detection and fire suppression systems, and manufactures fire extinguishers.
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