Meanwhile, the S&P BSE Sensex was down 111.02 points or 0.4% at 27,398.

On BSE, so far 2.90 lakh shares were traded in the counter as against average daily volume of 1.96 lakh shares in the past one quarter.

The stock hit a high of Rs 64.35 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 58 so far during the day. The stock had hit a 52-week low of Rs 27.20 on 6 March 2014.

The stock had outperformed the market over the past one month till 23 December 2014, surging 16.36% compared with the Sensex's 2.92% fall. The scrip had also outperformed the market in past one quarter, jumping 30.15% as against Sensex's 2.73% rise.

The small-cap company has equity capital of Rs 45.55 crore. Face value per share is Rs 10.

Devkinandan Corporation LLP held 4.34% stake in Nandan Denim (as per the shareholding pattern as on 30 September 2014).

Nandan Denim's net profit surged 44.8% to Rs 11.96 crore on 20.9% growth in net sales to Rs 276.94 crore in Q2 September 2014 over Q2 September 2013.

Nandan Denim is engaged in textile business.