Minda Industries galloped 13.27% to Rs 635.50 at 10:35 IST on BSE after the company said its net profit jumped 399.6% to Rs 25.58 crore on 32.5% rise in total income to Rs 368.83 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours on Tuesday, 11 November 2014.
Meanwhile, the S&P BSE Sensex was up 185.67 points or 0.67% at 28,095.73.
On BSE, so far 67,543 shares were traded in the counter as against average daily volume of 8,983 shares in the past one quarter.
The stock hit a high of Rs 649.10, also a record high for the stock. The stock hit a low of Rs 599.95 so far during the day. The stock had hit a 52-week low of Rs 167 on 4 March 2014.
The stock had outperformed the market over the past one month till 11 November 2014, rising 12.99% compared with the Sensex's 6.13% rise. The scrip had also outperformed the market in past one quarter, gaining 87.81% as against Sensex's 9.37% rise.
The mid-cap auto component maker has an equity capital of Rs 15.86 crore. Face value per share is Rs 10.
Minda Industries said that the board of directors of the company at its meeting held on 11 November 2014, have approved the matter relating to hiving off of the running business of Battery Division, located at Pant Nagar, Uttrakhand to a prospective joint venture between Minda Industries and Panasonic Corporation, subject to requisite approvals.
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