The company made this announcement after market hours on Thursday, 10 December 2009.

Meanwhile, the BSE Sensex was up 137.28 points, or 0.79%, to 17,326.59.

On BSE, 1,880 shares were traded in the counter as against an average daily volume of 1,851 shares in the past one quarter.

The stock hit a high of Rs 301.60 and a low of Rs 299 so far during the day. The stock had hit a lifetime high of Rs 510 on 24 September 2009 and a 52-week low of Rs 42 on 11 December 2008.

The small-cap stock had outperformed the market over the past one month till 10 December 2009, rising 8.29% as compared to the Sensex's 4.55% rise. It had underperformed the market in the past one quarter, falling 7.59% as compared to the Sensex's return of 6%.

The company's equity capital is Rs 8.99 crore. Face value per share is Rs 10.

The current price of Rs 301.60 discounts the company's Q2 September 2009 annualized EPS of Rs 6.45, by a PE multiple of 46.76.

Kanani Industries' net profit declined 66.3% to Rs 1.45 crore on 5% fall in net sales to Rs 21.96 crore in Q2 September 2009 over Q2 September 2008.

The company is engaged in manufacturing copper tubes.