The company made this announcement during trading hours today, 25 February 2010.

Meanwhile, the BSE Sensex was down 83.13 points, or 0.51% to 16,172.84.

On BSE, 33,488 shares were traded in the counter as against an average daily volume of 1.40 lakh shares in the past one quarter.

The stock hit a high of Rs 83.80 and a low of Rs 81.35 so far during the day. The stock had hit a lifetime high of Rs 99 on 15 January 2010 and a 52-week low of Rs 16.25 on 9 March 2009.

The small-cap stock had underperformed the market over the past one month till 24 February 2010, declining 7.20% as compared to the Sensex's 3.58% fall. It had outperformed the market in the past one quarter, rising 4.65% as compared to the Sensex's decline of 5.11%.

The company's equity capital is Rs 14.30. Face value per share is Rs 2.

The current price of Rs 82.40 discounts the company's Q3 December 2009 annualized EPS of Rs 10.76, by a PE multiple of 7.66.

Early this week, Maruti Suzuki India (MSI) recalled 1-lakh A-Stars to replace a faulty fuel pump gasket and O-ring. Some reports suggested that the faulty rubber part was supplied by Banco Products (India).

Banco Products (India) clarified that the company has been supplying gaskets for various models of MSI. Gaskets are made based on the technical specifications given by the original equipment maker (OEM). The company supply gaskets to models for which it has approvals from the OEMs, the company said in a filing with BSE.

Banco Products (India) also further clarified that there will not be any claim on the company, as the company has not supplied the gasket fitted in A-Star model

The board of Banco Products (India)'s had on 22 February 2010 approved to acquiring 100% stake in Nerderlandse Radiateuren Fabriek of Netherlands for a consideration of euro 17.70 million.

Banco Products (India)'s net profit jumped 289.5% to Rs 19.24 crore on 67.9% surge in net sales to Rs 106.58 crore in Q3 December 2009 over Q3 December 2008.

The company is engaged in manufacturing and selling automobile ancillaries. It manufactures gaskets and radiators, which are used in sealing and cooling applications in automotive and industrial engines.