Meanwhile, the S&P BSE Sensex was up 28.13 points or 0.11% at 26,671.37.

On the BSE, 1.19 lakh shares were traded on the counter so far as against the average daily volumes of 74,097 shares in the past one quarter. The stock had hit a high of Rs 126.85 and a low of Rs 114 so far during the day.

The stock had hit a 52-week high of Rs 165.80 on 18 May 2016 and a 52-week low of Rs 97.20 on 12 February 2016. It had underperformed the market over the past one month till 3 January 2017, sliding 6.23% compared with the Sensex's 1.57% rise. The scrip had also underperformed the market over the past one quarter declining 18.62% as against the Sensex's 5.67% fall.

The small-cap company has equity capital of Rs 48.05 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) yesterday, 3 January 2017, notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest up to 49% of the paid-up capital of Nandan Denim under the Portfolio Investment Scheme (PIS).

The central bank has stated that Nandan Denim has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from default 24% to 49% for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

FIIs held 11.95% stake in Nandan Denim end September 2016.

Nandan Denim's net profit rose 4.4% to Rs 16.30 crore on 2.8% growth in net sales to Rs 302.63 crore in Q2 September 2016 over Q2 September 2015.

Nandan Denim is engaged in textile business.