Nitin Fire Protection Industries fell 3.46% to Rs 41.90 at 12:33 IST on BSE, with the stock sliding on profit booking after recent rally after the company said its board will meet on 9 March 2015, to consider business expansion activities.
Meanwhile, the S&P BSE Sensex was up 39.13 points or 0.14% at 29,014.24.
On BSE, so far 10.17 lakh shares were traded in the counter as against average daily volume of 1.67 lakh shares in the past one quarter.
The stock hit a high of Rs 44.60 and a low of Rs 41.95 so far during the day. The stock had hit a 52-week low of Rs 30.15 on 2 December 2014. The stock had hit a record high of Rs 66.75 on 3 July 2014.
The stock had outperformed the market over the past one month till 23 February 2015, advancing 24.71% compared with Sensex's 1.04% fall. The scrip had also outperformed the market in past one quarter, jumping 14.51% as against Sensex's 2.26% 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 had rallied 13.76% in two trading sessions to settle at Rs 43.40 yesterday, 23 February 2015, from a recent low of Rs 38.15 on 19 February 2015.
Nitin Fire Protection Industries during market hours today, 24 February 2015 said that its board of directors will meet on 9 March 2015, to consider expansion of the company's fire protection business into defence sector whereby the company is proposing to introduce and move its product into specialized fire protection application suitable for defence applications which would further enhance the portfolio and expansion into the space.
On consolidated basis, Nitin Fire Protection Industries' net profit surged 394.4% to Rs 21.21 crore on 468.5% growth in net sales to Rs 400.16 crore in Q3 December 2014 over Q3 December 2013.
Nitin Fire Protection Industries makes fire protection and intelligent building management systems. The company provides end-to-end solutions for fire protection, comprising manufacturing, designing, engineering, commissioning and maintenance.
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