Meanwhile, the BSE Sensex was up 222.67 points, or 1.47% to 15,397.75.

On BSE, 2,952 shares were traded in the counter as against average daily volume of 13,752 shares in the past one quarter.

The stock hit a high of Rs 22.65 and a low of Rs 21 so far during the day. The stock had hit a record low of Rs 18.65 on Monday, 19 December 2011. The stock had hit a 52-week high of Rs 102.95 on 5 January 2011.

The stock had surged 11.57% in the preceding two trading sessions from Rs 19.45 on Friday, 16 December 2011, after the company announced during trading hours on Monday, 19 December 2011, that it has sold the TV broadcast rights of animated 3D series Chaplin and Co to Cartoon Network Asia for certain Asian territories including India.

The stock underperformed the market over the past one month till 20 December 2011, falling 14.4% compared with Sensex's 7.31% decline. The scrip had also underperformed the market over the past one quarter, declining 41.51% as against Sensex's 11.25% fall.

The small-cap animation and visual effects firm has an equity capital of Rs 79.28 crore. Face value per share is Rs 10.

DQ Entertainment (International) said that the broadcasting rights relate to 104 Chaplin and Co episodes, each 6 minutes long and will be broadcast across all of Cartoon Network's Asia Pacific markets in more than 26 countries from early 2012. Chaplin and Co is a co-production between DQ Entertainment and Method Animation (based in France), and was developed in consultation with the Chaplin family, making the series truly representative of the world-famous screen icon, DQ Entertainment further added.

Commenting on the development, Mr Tapaas Chakravarti, Chairman & CEO, DQ Entertainment said The legend of Charlie Chaplin will be brought back in hi-end animated short films to delight children and families. The legendary entertainer will once again entertain audiences in his new CGI Avatar. We believe Cartoon Network is the perfect partner for Chaplin and Co to bring this side-splitting series to audiences in this region.

Commenting on the development, Layla Lewis, Director, Programming, Acquisitions & Development, Turner Broadcasting System Asia Pacific, Inc, said, Chaplin and Co offers a contemporary take on Chaplin's timeless humour and endearing charm. We're thrilled to introduce his comedic adventures to a whole new generation of Cartoon Network Asia Pacific fans.

On a consolidated basis, DQ Entertainment (International)'s net profit rose 11.2% to Rs 21.72 crore on 0.6% growth in net sales to Rs 62.98 crore in Q2 September 2011 over Q2 September 2010.

DQ Entertainment is one of the leading producers of animation, visual effects, game art and live action entertainment content for the global media and entertainment industry. The company has a workforce of approximately 3,200 employees and a global client - partner base of over 100 producers, distributors, broadcasters and licensors.