The announcement was made during trading hours today, 28 March 2014.

Meanwhile, the S&P BSE Sensex was up 26.32 points or 0.12% at 22,240.69.

On BSE, so far 1.81 lakh shares were traded in the counter as against average daily volume of 15,165 shares in the past one quarter.

The stock hit a high of Rs 121.90 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 112.95 so far during the day. The stock had hit a 52-week low of Rs 55 on 25 June 2013.

The stock had outperformed the market over the past one month till 27 March 2014, surging 11.5% compared with Sensex's 5.85% rise. The scrip had also outperformed the market over the past one quarter, jumping 5.31% as against Sensex's 4.82% rise.

The small-cap company has equity capital of Rs 9.36 crore. Face value per share is Rs 10.

GM Breweries' net profit surged 102.4% to Rs 4.29 crore on 1.3% growth in net sales to Rs 76.85 crore in Q3 December 2013 over Q3 December 2012.

GM Breweries is engaged in manufacturing and marketing of alcoholic beverages such as Country Liquor (CL) and Indian made Foreign Liquor (IMFL).