The company announced the board meet during trading hours today, 8 September 2009.

Meanwhile, the BSE Sensex was up 85.30 points, or 0.53%, 16,101.62.

On BSE, 33.24 lakh shares were traded in the counter. The stock had an average daily volume of 11.85 lakh shares in the past one quarter.

The stock hit a high of Rs 45.30 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 42 so far during the day. The stock hit a 52-week low of Rs 13.03 on 8 December 2008.

The mid-cap stock had outperformed the market over the past one month till 7 September 2009, gaining 18.21% as compared to the Sensex's 5.65% rise. It had also outperformed the market in the past one quarter, rising 13.40% as compared to the Sensex's return of 6.04%.

The company's equity capital is Rs 28.73 crore. Face value per share is Rs 1.

The current price of Rs 43.90 discounts the company's annualized Q1 June 2009 EPS of Rs 7.43, by a PE multiple of 5.91.

The board of Electrosteel Castings will also consider issuing non-convertible debentures with equity warrants

Electrosteel Castings' net profit surged 276.8% to Rs 58.10 crore on 7.6% fall in net sales to Rs 372.90 crore in Q1 June 2009 over Q1 June 2008.

The company makes cast iron pipes, ductile iron pipes, steel ingots, billets, and grinding media. The products mostly find application in water infrastructure. The Government of India is one of its major client.