VIP Industries rose 1.69% to Rs 54.30 at 9:25 IST on BSE, with the stock extending Monday's 8.76% rally triggered by Rakesh Jhunjhunwala hiking stake by 0.69% in the luggage maker.
Meanwhile, the S&P BSE Sensex was down 222.08 points or 1.2% at 18,336.05.
On BSE, 44,000 shares were traded in the counter as against average daily volume of 1.87 lakh shares over the past two weeks.
The stock hit a high of Rs 54.45 and a low of Rs 53 so far during the day.
Shares of VIP Industries have risen 10.59% in two trading sessions from Rs 49.10 on 23 August 2013, as Rakesh Jhunjhunwala bought 5.03 lakh shares of VIP Industries on 21 August 2013 and 4.68 lakh shares of the company on 22 August 2013. The company made the disclosure during trading hours on Monday, 26 August 2013. The stock had rallied 8.76% to settle at Rs 53.40 on Monday, 26 August 2013.
VIP Industries net profit fell 2.1% to Rs 23 crore on 8% growth in net sales to Rs 325.80 crore in Q1 June 2013 over Q1 June 2012.
VIP Industries is a leading manufacturer of hard and soft luggage.
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