DCM Shriram Consolidated surged 14.36% to Rs 68.50 at 10:03 IST on BSE after the company said that its board will meet on 22 February 2014 to consider various options for rewarding shareholders, including share buyback, bonus issue and dividends.
The company made the announcement after market hours on Wednesday, 19 February 2014.
Meanwhile, the BSE Sensex was down 99.57 points, or 0.48%, to 20,623.40.
On BSE, so far 89,000 shares were traded in the counter, compared with an average volume of 8,623 shares in the past one quarter.
The stock hit a high of Rs 70.35 so far during the day, which is also 52-week for the counter. The stock hit a low of Rs 66 so far during the day. The stock hit a 52-week low of Rs 49.10 on 27 February 2013.
The stock had outperformed the market over the past one month till 19 February 2014, rising 7.25% compared with the Sensex's 1.62% fall. The scrip had also outperformed the market in past one quarter, rising 16.88% as against Sensex's 0.80% decline.
The small-cap company has an equity capital of Rs 33.18 crore. Face value per share is Rs 2.
DCM Shriram Consolidated announced that a special meeting of the board of directors will be held on 22 February 2014 to consider the report of sub committee of the board to look at all options including share buyback from the existing shareholders, review of dividends policy, bonus issues, etc for rewarding shareholders.
On a consolidated basis, DCM Shriram Consolidated's net profit fell 27% to Rs 44.33 crore on 8.4% increase in net sales to Rs 1449.22 crore in Q3 December 2013 over Q3 December 2012.
DCM Shriram Consolidated is an integrated business entity, with presence across the entire Agri-rural value chain and Chloro-Vinyl industry.
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