The announcement was made after market hours yesterday, 21 December 2015.

Meanwhile, the S&P BSE Sensex was down 45.30 points or 0.18% at 25,690.60.

On BSE, so far 5,442 shares were traded in the counter as against average daily volume of 390 shares in the past two weeks.

The stock's current price of Rs 20,798 so far during the day is also its record high. The stock hit a low of Rs 18,530 so far during the day. The stock had hit a 52-week low of Rs 12,251 on 23 March 2015.

The stock had outperformed the market over the past one month till 21 December 2015, gaining 1.86% compared with Sensex's 0.51% fall. The scrip had also outperformed the market in past one quarter, advancing 3.37% as against Sensex's 1.75% fall.

The small-cap company has equity capital of Rs 0.87 crore. Face value per share is Rs 10.

Tide Water Oil (India)'s net profit fell 79% to Rs 20.17 crore on 0.9% decline in net sales to Rs 227.37 crore in Q2 September 2015 over Q2 September 2014.

Tide Water Oil is one of the leading players in the Indian lubricant industry. It manufactures and markets Veedol brand of lubricants.