Meanwhile, the BSE Sensex was up 136.52 points, or 0.84%, to 16,328.15
On BSE, 1.08 lakh shares were traded in the counter as against an average daily volume of 47,671 shares in the past one quarter.
The stock hit a high of Rs 568.55 and low of Rs 531 so far during the day. The stock had hit a 52-week high of Rs 598 on 19 February 2010 and a 52-week low of Rs 113.20 on 9 March 2009.
The stock was in demand recently, advancing 12.05% to Rs 542.10 on 19 February 2010 from a recent low of Rs 483.80 on 16 February 2010. The rise in the stock materialised after the company scheduled a board meet on 22 February 2010 to consider merger of Gobind Sugar Mills within itself.
The mid-cap stock had outperformed the market over the past one month till 19 February 2010, rising 10.30% as compared to the Sensex's 7.40% fall. It also outperformed the market in the past one quarter, jumping 35.05% as compared to the Sensex's fall of 3.54%.
The company's equity capital is Rs 29.44 crore. Face value per share is Rs 10.
The current price of Rs 535.10 discounts the company's Q3 December 2009 annualized EPS of Rs 33.82, by a PE multiple of 15.82
Zuari Industries board at its meeting held today, 22 February 2010 approved merger of Gobind Sugar Mills within itself. Post merger, shareholders of Gobind Sugar Mills will be issued one fully paid equity share of Zuari Industries for each held, the company said in a filing to the BSE. The announcement was made during market hours today, 22 February 2010.
In early November 2009, Zuari Industries signed a pact with state-run GAIL India for procurement of natural gas for its fertilizer plant in Goa. The anticipated date of supply is 1 January 2013.
Zuari Industries' net profit rose 24.50% to Rs 24.89 crore on 46.40% decline in net sales to Rs 1094.89 crore in Q3 December 2009 over Q3 December 2008.
The company is engaged in manufacturing and distribution of ammonia, fertilisers, pesticides and urea as well as marketing of seeds.
Promoters have pledged 23.60 lakh shares representing 8.02% of the equity capital of the company (as on 30 September 2009).