The company announced the bonus issue along with Q4 March 2011 results on Saturday, 28 May 2011.

Meanwhile, the BSE Sensex was down 20.55 points, or 0.11%, to 18,245.55

On BSE, 1,596 shares were traded in the counter with pending buy orders of 5,077 shares at the maximum limit. The stock's average daily volume is 291 shares in the past one quarter.

The stock hit a high of Rs 510 and a low of Rs 484 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 underperformed the market over the past one month till 27 May 2011, falling 8.60% compared with the Sensex's 6.08% fall. The stock had outperformed the market in past one quarter, rising 7.20% as against Sensex's rise of 3.19%.

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

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.