Grindwell Norton surged 11.65% to Rs 706 at 10:20 IST on BSE after the company's board of directors recommended a liberal 1:1 bonus issue of shares.
The announcement was made after trading hours yesterday, 30 May 2016.Meanwhile, the S&P BSE Sensex was down 105.99 points or 0.4% at 26,619.61
On BSE, so far 6,833 shares were traded in the counter as against average daily volume of 4,460 shares in the past one quarter. The stock hit a high of Rs 720.70 and a low of Rs 675.55 so far during the day. The stock had hit a record high of Rs 829.50 on 20 October 2015. The stock had hit a 52-week low of Rs 575 on 29 February 2016.
The mid-cap company has equity capital of Rs 27.68 crore. Face value per share is Rs 5.
Grindwell Norton's consolidated net profit rose 12.18% to Rs 30.57 crore on 8.76% growth in total income from operations to Rs 323.04 crore in Q4 March 2016 over Q4 March 2015. The Q4 result was announced after market hours yesterday, 30 May 2016.
Grindwell Norton manufactures bonded, coated, non-woven abrasives, superabrasives, thin wheels and silicon carbide.
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