Meanwhile, the BSE Sensex was up 141.29 points, or 0.49%, to 29,030.15

On BSE, so far 1.91 lakh shares were traded in the counter with pending buy orders of 17,178 shares at upper circuit. The stock has an average volume of 53,864 shares in the past one quarter.

The stock hit a high of Rs 1,169.15 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,025 so far during the day. The stock hit a 52-week low of Rs 129.05 on 17 February 2014.

The stock had outperformed the market over the past one month till 21 January 2015, advancing 16.73% compared with the Sensex's 5.54% rise. The scrip had also outperformed the market in past one quarter, surging 61.55% as against Sensex's 8.7% rise.

The small-cap company has an equity capital of Rs 27.19 crore. Face value per share is Rs 10.

Hitachi Home & Life Solutions (India) in a press release issued before market hours today, 22 January 2015 said that Johnson Controls, Hitachi and Hitachi Appliances Inc. entered into a definitive agreement yesterday, 21 January 2015 for their global joint venture while at the World Economic Forum in Davos. The new Johnson Controls-Hitachi joint venture will allow both companies to deliver the most diverse technology portfolio in the heating, ventilation, air conditioning and refrigeration industry, the company said.

Through the agreement, Johnson Controls will obtain a 60% ownership stake in Hitachi Appliances' more than ¥300 billion sales (approximately $2.6 billion) global air conditioning business, excluding sales and service operations in Japan. The Johnson Controls-Hitachi joint venture will bring customers a full range of air conditioning products, including world-class variable refrigerant flow (VRF) technology, leading-edge inverter technology based room air conditioners and absorption chillers – on top of existing Johnson Controls products that meet global customer demands, Hitachi Home & Life Solutions (India) said.

Hitachi Home & Life Solutions (India) is a subsidiary of Hitachi Appliance Inc. The Japanese company has a 72.41% stake in the Indian outfit (as on 30 September 2014).

With approximately 13,800 employees and 24 manufacturing plants, the joint venture will build on both organizations' technology, research and development leadership, as well as their expanding marketing channels. The transaction is expected to close later this year, subject to regulatory approvals and satisfaction of other customary conditions, the company said.

Johnson Controls is a global multi-industrial company with 130 years of history in supplying heating, ventilation, air-conditioning, building controls, refrigeration and security systems for buildings.

A global home appliances and air conditioning solutions provider, Hitachi Appliances, a wholly owned subsidiary of leading global electronics and infrastructure solutions provider Hitachi, supplies high quality, efficient and reliable air conditioning solutions across the globe.

Hitachi Home & Life Solutions (India) reported net profit of Rs 9.08 crore in Q2 September 2014 as compared to net loss of Rs 7.11 crore in Q2 September 2013. Net sales rose 57.1% to Rs 250.97 crore in Q2 September 2014 over Q2 September 2013.

Hitachi Home & Life Solutions (India) manufactures various kinds of products, including room air-conditioners, commercial air-conditioners, chillers and into trading of VRF systems, rooftops and refrigerators.