Panasonic Appliances India Company was locked at 5% upper circuit at Rs 236.10 at 13:56 IST on BSE after setting floor price of Rs 167.65 per share for delisting of equity shares of the company from the stock exchanges.
The announcement was made on Saturday, 25 October 2014.
Meanwhile, the S&P BSE Sensex was down 30.32 points or 0.11% at 26,820.73.
On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 6,521 shares in the past one quarter.
The stock opened with an upward gap surging by the maximum permissible level of 5% and remained locked at 5% level at Rs 236.10 so far in the day, which is also its 52-week high for the counter. The stock had hit a 52-week low of Rs 45 on 11 November 2013.
The stock had outperformed the market over the past one month till 23 October 2014, advancing 48.65% compared with Sensex's 0.28% rise. The scrip had also outperformed the market in past one quarter, galloping 119.63% as against Sensex's 2.69% rise.
The small-cap company has equity capital of Rs 9.83 crore. Face value per share is Rs 10.
It may be recalled that Panasonic Appliances India Company had on 17 October 2014, intimated stock exchanges about the proposal received from promoter, Panasonic Corporation, Japan to voluntarily delist the equity shares of Panasonic Appliances India Company from stock exchanges.
Panasonic Appliances India Company reported net profit of Rs 0.63 crore in Q1 June 2014 compared with net loss of Rs 1.47 crore in Q1 June 2013. Net sales rose 13.6% to Rs 43.05 crore in Q1 June 2014 over Q1 June 2013.
Panasonic Appliances India Company provides a wide variety of products, systems, and services, ranging from consumer electronics products to industrial devices, building products, and housing.
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