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Shares of Borosil Glass Works had jumped 10.32% to settle at Rs. 806.15 on Wednesday, 21 September 2011, after the company made this announcement during trading hours on that day.
Meanwhile, the BSE Sensex was down 335.81 points, or 1.97% to 16,729.34.
On BSE, 41,267 shares were traded in the counter as against an average daily volume of 8,769 shares in the past one quarter.
The stock hit a high of Rs. 874 and a low of Rs. 800 so far during the day. The stock hit a 52-week high of Rs. 919.75 on 29 July 2011 and a 52-week low of Rs. 537 on 8 December 2010.
The stock has risen 16.05% in just two trading sessions from a recent low of Rs. 730.75 on 20 September 2011, boosted by the company's announcement that the board will consider share buyback proposal.
The stock outperformed the market over the past one month till 21 September 2011, rising 9.07% compared with the Sensex's return of 5.72%. The scrip had also outperformed the market in past one quarter, gaining 12.75% as against 2.82% decline in the Sensex.
The small-cap glass products maker has an equity capital of Rs. 3.96 crore. Face value per share is Rs. 10.
Borosil Glass Works on Wednesday, 21 September 2011, said its board will consider share buyback proposal on 23 September 2011.
Borosil Glass Works' net profit jumped 119.8% to Rs. 4.66 crore on 1.1% fall in net sales to Rs. 24.50 crore in Q1 June 2011 over Q1 June 2010.
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