Meanwhile, the BSE Sensex was up 189.51 points, or 1.09% to 17,505.69.

On BSE, 1.06 lakh shares were traded in the counter as against average daily volume of 71,002 shares in the past one quarter.

The stock hit a high of Rs 436.90 and a low of Rs 420.60 so far during the day. The stock had hit a 52-week low of Rs 222 on 21 March 2011. The stock hit a record high of Rs 490 on 28 July 2011.

The stock had outperformed the market over the past one month till 20 March 2012, rising 22.31% compared with the Sensex's 5.32% fall. The scrip had also outperformed the market in the past one quarter, surging 73.43% as against the Sensex's 14.11% gain.

The small-cap bicycle maker has an equity capital of Rs 3.25 crore. Face value per share is Rs 10.

The Atlas Cycles (Haryana) stock had rallied 31.54% in three trading sessions to settle at Rs 432.20 on Tuesday, 20 March 2012, from Rs 328.55 on 15 March 2012, after the government hiked the customs duty on bicycles from 10% to 30% in the Union Budget 2012-13 presented in Parliament on Friday, 16 March 2012.

The Union Budget 2012-13 bestowed additional pricing power to the Indian bicycle sector. The basic customs duty on bicycles has been hiked from 10% to 30%. Similarly, the basic customs duty on bicycle parts has been increased from 10% to 20%. The domestic players pricing power was curtailed due to virtual dumping of bicycles from global markets in general and from China in particular. The hike in customs duty on bicycles and its parts should help restrict the imports and increase the landed cost thereof. This can facilitate some more pricing power for the Indian bicycle sector.

Atlas Cycles (Haryana)'s net profit fell 11.8% to Rs 1.20 crore on 18% growth in net sales to Rs 237.25 crore in Q3 December 2011 over Q3 December 2010.

Atlas Cycles (Haryana) manufactures different varieties of bicycles like mountain bikes, ATBs, Roadsters, children bikes and ladies bikes.