The company made this announcement after market hours on Thursday, 10 December 2009.
Meanwhile, the BSE Sensex was up 137.28 points, or 0.79%, to 17,326.59.
On BSE, 1,880 shares were traded in the counter as against an average daily volume of 1,851 shares in the past one quarter.
The stock hit a high of Rs 301.60 and a low of Rs 299 so far during the day. The stock had hit a lifetime high of Rs 510 on 24 September 2009 and a 52-week low of Rs 42 on 11 December 2008.
The small-cap stock had outperformed the market over the past one month till 10 December 2009, rising 8.29% as compared to the Sensex`s 4.55% rise. It had underperformed the market in the past one quarter, falling 7.59% as compared to the Sensex`s return of 6%.
The company`s equity capital is Rs 8.99 crore. Face value per share is Rs 10.
The current price of Rs 301.60 discounts the company`s Q2 September 2009 annualized EPS of Rs 6.45, by a PE multiple of 46.76.
Kanani Industries` net profit declined 66.3% to Rs 1.45 crore on 5% fall in net sales to Rs 21.96 crore in Q2 September 2009 over Q2 September 2008.
The company is engaged in manufacturing copper tubes.
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