Meanwhile, the S&P BSE Sensex was down 45.57 points, or 0.16% to 28,883.56

On BSE, 57,000 shares were traded in the counter as against average daily volume of 1.13 lakh shares over the past one quarter. The stock hit a high of Rs 88.25 and a low of Rs 85.10 so far during the day. The stock had hit a 52-week high of Rs 94.70 on 17 October 2016. The stock had hit a 52-week low of Rs 41.50 on 29 March 2016.

The small-cap company has an equity capital of Rs 68.65 crore. Face value per share is Rs 5.

The board of directors of Kirloskar Ferrous Industries at its meeting held on 28 July 2016 had granted its in-principle approval for acquisition of movable and immovable assets relating to the pig iron plant of VSL Steels for a cash consideration of Rs 155 crore. However, on account of certain ongoing disputes between VSL Steels and one of its related parties, the proposed transaction has not been completed till date. Consequently, in view of the unaccounted delays caused by the pending disputes, the board of directors of the company at its meeting held yesterday, 9 March 2017 has resolved to not to proceed with the proposed transaction.

Kirloskar Ferrous Industries' net profit rose 41.54% to Rs 17.07 crore on 16.3% decline in net sales to Rs 224.13 crore in Q3 December 2016 over Q3 December 2015.

Kirloskar Ferrous Industries' principal activity is to manufacture and supply iron castings.