Meanwhile, the BSE Sensex was down 244.56 points, or 1.43%, to 16,820.59.

On BSE, 11,111 shares were traded in the counter as against an average daily volume of 6,425 shares in the past one quarter.

Today's high of Rs 218.50 is a record high for the counter. The stock hit a low of Rs 200 so far during the day. The stock had hit a 52-week low of Rs 116.60 on 10 February 2011.

The stock had underperformed the market over the past one month until 21 September 2011, gaining 1.48% compared with the Sensex's 5.72% gain. The scrip had outperformed the market in past one quarter, falling 1.51% as against 2.82% decline in the Sensex.

The small-cap company, which makes chlorinated polyvinyl chloride (CPVC) plumbing systems for residential and industrial applications, has an equity capital of Rs 11.24 crore. Face value per share is Rs 5.

Astral Poly Technik, during trading hours on Thursday, 22 September 2011, clarified that talks with Lubrizol Corporation to set up CPVC plant in Gujarat are at preliminary stage and are subject to detailed negotiations. The company said it will make a detailed announcement as and when things are finalised.

US-based Lubrizol Corporation is owned by Berkshire Hathaway Inc of Warren Buffett. According to reports, Lubrizol has proposed to set up a $245 million CPVC industrial unit in joint venture at Dahej. Tom Friebus, vice president, Operations, Lubrizol, and Sandip Engineer, Managing Director of Astral Poly Technic reportedly met Gujarat Chief Minister Narendra Modi on Wednesday, 21 September 2011, to discuss about the project.

CPVC products have great demand in South-east Asia, Middle East and Africa. Considering the investor-friendly and transparent policies and best infrastructural facilities in Gujarat, the company has chosen the state for setting up this unit, Friebus was quoted by the media as saying. The decision to set up the plant with an investment of $245 million was taken after Warren Buffett took charge of Lubrizol Corporation, Friebus told the media. Berkshire Hathaway Inc and Lubrizol Corporation recently announced the completion of the acquisition of Lubrizol for $135 per share in an all-cash transaction.

Net profit of Astral Poly Technik rose 28.31% to Rs 6.89 crore on 40.99% rise in net sales to Rs 100.16 crore in Q1 June 2011 over Q1 June 2010.