The company made the announcement after market hours yesterday, 17 November 2014.

Meanwhile, the S&P BSE Sensex was up 47.75 points or 0.17% at 28,225.63.

On BSE, so far 1.19 lakh shares were traded in the counter as against average daily volume of 13,208 shares in the past one quarter.

The stock hit a high of Rs 78.50, also a 52-week high for the stock. The stock hit a low of Rs 71.95 so far during the day. The stock had hit a 52-week low of Rs 14.70 on 13 February 2014.

The stock had outperformed the market over the past one month till 17 November 2014, gaining 40.91% compared with the Sensex's 7.93% rise. The scrip had also outperformed the market in past one quarter, rising 26.02% as against Sensex's 7.95% rise.

The small-cap firm has an equity capital of Rs 4.20 crore. Face value per share is Rs 2.

Good Luck Steel Tubes' board of directors at its meeting held yesterday, 17 November 2014, inter alia, considered and approved issue of upto 40 lakh warrants on preferential basis to person belonging to non-promoter category and upto 10 lakh warrants on preferential basis to person belonging to promoter category. The aforesaid decision of the board of directors of the company is subject to the approval of the shareholders and other competent authorities. The board of directors also decided to call an extra-ordinary general meeting of the shareholders of the company on 17 December 2014 to consider and approve the aforesaid preferential issue.

Separately, Good Luck announced after market hours yeaterday, 17 November 2014, inauguration of its second manufacturing plant at Sikandrabad (District Bulandshahar, Uttar Pradesh) on 15th November 2014. The company has invested around Rs 100 crore in the second plant and with this development, it has doubled its production capacity from 30,000 metric tonnes (MT) to 60,000 MT. In FY 2015, when the plant is scheduled to go full stream, it will add up to top line by Rs 200 crore and & bottom line suitably

In the second phase of business expansion, GLST intends to do a capital expenditure (capex) of Rs 50 crore for ramping up the capacity of structure vertical ie. towers for PGCIL, NTPC through BHEL & Siemens; heavy engineering structure for boiler manufacturers such as ISFEC, Thermax; bag house and filtration system for multinational companies like Boldrocchi Ecologia; structures for infra projects such as DMRC through L&T-SUCG & last but not the least, the bogie structures for Indian Railways. In the solar energy vertical, the company supplies support structure for solar panels. In financial yea r ending 31 March 2016 (FY 2016), company plans to make a foray into forging vertical. Government's ‘Make in India' drive offers enormous business opportunities to Indian forgers. Relaxed FDI norms & increased privatization in reserved sector such as defence also offers immense business potential, company said in a statement. The company plans to do a capex of Rs 150 crore to modernize current plant and expand capacity with latest technology to tap demands of global forging industry.

Good Luck Steel Tubes' net profit rose 14.4% to Rs 6.92 crore on 11.5% rise in total income to Rs 276.17 crore in Q2 September 2014 over Q2 September 2013.

Good Luck Steel Tubes (GLST), a engineering exports steel tubes (agricultural to automobile), alloy steel flanges, transmission line towers etc.