The announcement was made after market hours yesterday, 2 February 2017.

Meanwhile, the S&P BSE Sensex was down 12.93 points or 0.05% at 28,213.68.

On the BSE, 5,425 shares were traded on the counter so far as against the average daily volumes of 2,162 shares in the past one quarter. The stock had hit a high of Rs 617 and a low of Rs 600 so far during the day.

The stock had hit a 52-week high of Rs 775.25 on 5 May 2016 and a 52-week low of Rs 555 yesterday, 2 February 2017. The stock had underperformed the market over the past one month till 2 February 2017, sliding 2.4% compared with the Sensex's 6.13% rise. The scrip had, however, underperformed the market over the past one quarter, declining 10.02% as against the Sensex's 2.54% rise.

The small-cap company has equity capital of Rs 21.98 crore. Face value per share is Rs 10.

Kennametal India is a manufacturer of hard metal products and machine tools for the manufacturing industries, including auto and auto ancillaries, light and general engineering industries.