Meanwhile, the BSE Sensex was down 82.29 points, or 0.44%, to 18,526.52

On BSE, 14,143 shares were traded in the counter compared with average daily volume of 2,163 shares in the past one quarter.

The stock hit a high of Rs 635 and a low of Rs 601 so far during the day. The stock had hit a 52-week high of Rs 774.80 on 10 August 2010 and a 52-week low of Rs 370 on 11 February 2011.

The stock had outperformed the market over the past one month till 1 June 2011, gaining 45.03% compared with the Sensex's 2.75% fall. The scrip had also outperformed the market in past one quarter, surging 54.4% as against 0.88% gain in the Sensex.

The small-cap textiles firm has an equity capital of Rs 3.51 crore. Face value per share is Rs 10.

The Rajapalayam Mills stock was on a roll recently, advancing 51.85% in three trading days to Rs 645.40 on 1 June 2011 from Rs 425 on 27 May 2011, boosted by company's board recommending a liberal 1:1 bonus issue along with strong Q4 March 2011 results on Saturday, 28 May 2011.

Rajapalayam Mills' net profit rose 77.9% to Rs 6.85 crore on 25.4% increase in net sales to Rs 85.99 crore in Q4 March 2011 over Q4 March 2010.

The company's net profit rose 128.3% to Rs 26.87 crore on 27.9% increase in net sales to Rs 304.85 crore in the year ended March 2011 over the year ended March 2010.

Rajapalayam Mills' board also recommended dividend of Rs 15 per share for the year ended March 2011 comprising of a dividend of Rs 7.50 per share and a special platinum jubilee dividend of Rs 7.50 per share.